What is Balance Sheet? | Financial Accounting | From A Business Professor

Have you ever wondered how businesses keep track of their finances? How do they know what they own, what they owe, and how much belongs to their owners? The answer lies in the balance sheet—one of the most essential financial statements used by businesses, investors, and banks. But what exactly is the balance sheet? What are its key components? How are they calculated, and why are they so important? In this video, I will discuss these questions with you.