Some describe the balance sheet as a "snapshot" of the company's financial position at a point (a moment or an instant) in time.
The Balance Sheet summarizes the company's assets, liabilities, and shareholders' equity at a specific point in time. For example, the amounts reported on a balance sheet dated December 31, 2012, reflect that instant when all the transactions through December 31 have been recorded.
The three balance sheet segments in the Excel file below give investors an idea as to what the company owns and owes, as well as the amount invested by the shareholders. It provides the minimum information required by financial institutions for assessing loan applications, tax authorities, and potential investors.
Although the template is an example of a balance sheet for a sole proprietorship, you can quickly modify it for a corporation or partnership. You can add or delete account titles, revise the format, or otherwise modify it to suit your needs.