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Balance Sheet

In: The New Frontiers for Business Analysis

Author

Listed:
  • Keron Bhattacharya

    (Jay Consultancy Services)

Abstract

For many managers as well as accountants, a balance sheet is nothing but a statement of assets and liabilities. Many even think that in a balance sheet the assets and liabilities should balance. This is far from the truth. The biggest element in the liabilities, the shareholders’ equity, is not a liability for the company but a balancing factor. The inclusion of shareholders’ equity in the balance sheet just happens to be convenient rather than scientific. Pragmatic Genoans who developed the mystery of double-entry book-keeping must be saluted for thinking of such an ingenious way to account for their business affairs. No Newton or Einstein would have accepted such a travesty in any of their scientific treaties.

Suggested Citation

  • Keron Bhattacharya, 1987. "Balance Sheet," Palgrave Macmillan Books, in: The New Frontiers for Business Analysis, chapter 7, pages 106-137, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-08612-2_8
    DOI: 10.1007/978-1-349-08612-2_8
    as

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