What are the items that include in a balance sheet?

In order to know what are the items that include in a balance sheet, you need to firs understand What is a Balance Sheet?

A Balance Sheet is a Financial Position Statement of a business on a particular day.  Generally an Annual Period of 12 months is considered appropriate to evaluate a Financial  Position of any business.

Balance Sheet consists of two fold items:

1) The Assets owned by a business

2) The Liabilities owed by a business

The Assets includes the following major groups of items:

A) Current Assets

B) Non-Current Assets

C) Intangible Assets

Current Assets includes those items which have utilities for a short period of time, generally a year

Non-current Assets includes those items which have utilities for a longer period of time, generally more than a year

There is varied list of items that comes under Current Assets, but the major ones are as under:

Cash and Bank balances

Accounts receivables

Notes receivables

Inventory

Short term advances

Short term investments

Prepaid expenses

Taxes receivable

Others

Similarly there is varied list of items that comes under Non-Current Assets, but the major ones are as under:

Long Term Investments

Due From Shareholder's/Directors/Owners 

Fixed Assets

The Liabilities includes the following major groups of items:

1) Current Liabilities

2) Long-term liabllities

3) Shareholder's (Owner's) Equity

There is varied list of items that comes under Current Liabilities, but the major ones are as under:

Bank Overdraft

Line of Credit

Accounts Payable

Accrued Expenses (Liabilities)

Notes payable (short term only)

Credit Card's Dues (payables)

Taxes payable

Current portion of Long-term debts

Others

Similarly there is varied list of items that comes under Long-term liabilities:

Long-term debts

Due to Shareholder's (Owner's)

Owner's Equity includes 

Share Capital 

Retained Earnings (deficit)

There is one more item presented on the Balance in the liability section but only as a foot note and it is called Contingent Liability

e.g. If there is any legal suit filed against the company for any breach or dsipute by the third  party and it may result in a suit loss....then the same must be mentioned as a foot note  under Contingent Liability

The above are just the major item listing and the detail list may vary from company to company or business to business.

Current Assets

Non Current Assets

Current Liabilities

Non Current Liabilities

Equity

Assets,Liabilities and Owners equity

Balance Sheet is consist of Assets & Liabilities with Owners Equity and they are further Break down to Current Assets & non Current Assets. Current Liabilities & non Current liabilities

Assets

Liabilities

Cash

Equity

Bank Overdarft

items included in the balance sheet (by general category) are: Assets: Cash, marketable securities, prepaid expenses, accounts receivable, inventory, and fixed assets. Liabilities: Accounts payable, accrued liabilities, taxes payable, short-term debt, and long-term debt.

A Balance Sheet is a Financial Position Statement of a business on a particular day.  Generally an Annual Period of 12 months is considered appropriate to evaluate a Financial  Position of any business.

It consists of assets and liabilities Assets it contains 2 groups of accounts. First fixed assets like cars and buildings, and second current assest like inventory, customers

Liabilities have 2 kinds of accounts. First one is equity which consist of Capital and Reseve and second is current liabilities like suppliers

Balance Sheet Consist of Two Sides one is Debit and another is Credit as per T-shape format.

Now schedule III came in to force thus no companies follow the T-shape format for making balance sheet.

However, a balance sheet includes the following...

1) Assets: Fixed Assets, Current Assets

2)Equity and Liablities: Equity share Capital, Long Term Liablities, current Liablities.

This is just a major heading of an assets are given. under each heading several different items can be taken based on certain rules for qualifying an item as a fixed assets or Current assets; Current liablities or long term Liabilities.

Total liabilities and Shareholder capital that equals total assets 

Typical line items included in the balance sheet are:

• Assets: Cash, marketable securities, prepaid expenses, accounts receivable, inventory, and fixed assets
• Liabilities: Accounts payable, accrued liabilities, taxes payable, short-term debt, and long-term debt
• Shareholders' equity: Stock, retained earnings, and treasury stock

The balance sheet is a report that summarizes all of an entity's assets, liabilities, and equity as of a given point in time.