Whether you are a business owner, employee or investor, reading and understanding a balance sheet is one of the fundamental skills of financial accounting.

Here you will find everything you need to know about a balance sheet: what is a balance sheet, what information does it contain, why is it so important and how does it work?

Please note: The balance sheet presented in this video complies with International Financial Reporting Standards (IFRS), which are also followed by companies outside the United States. U.S. companies typically follow Generally Accepted Accounting Principles (GAAP).

Learn more about the balance sheet in our Business Insights Blog: https://hbs.me/munnpdbf
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