The balance sheet provides a summary of the assets and liabilities of a business. It is a snapshot of those assets at a particular moment in time.
The balance sheet always balances because of the use of "double-entry" bookkeeping to record business transactions.
Every transaction in a business always has two equal effects on the assets and liabilities of a business. Some examples are shown below.
A complete collection of editable lesson topic worksheets and exam-style case studies that are ideal for teaching individual topics for the whole Year 1 (AS) teaching content.
This resource comprises two practice exam papers (with supporting mark schemes) for each of the two Year 1 (AS) papers. The format of each practice exam paper follows precisely the format of the specimen assessment materials issued by the board that have been accredited by Ofqual.