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A balance sheet is a financial statement that provides a snapshot of a company's financial position at a specific point in time, showing assets, liabilities, and shareholders' equity. It is a formal report prepared by Accountants for external stakeholders. On the other hand, a worksheet is an internal document used by accountants to organize and record adjusting entries and prepare financial statements. It is a tool to facilitate the preparation of financial statements and is not typically shared with external parties.
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What is the difference between contingent liability and off balance sheet liability?
There is no difference between Contingent Liability and Off Balance Sheet Liability.
Difference between on balance sheet financing and off balance sheet financing?
In off-balance sheet financing assets are not shown in balance sheet while in balance sheet financing fixed assets shown in balance sheet.
Is there a difference between a partnership balance sheet and a corporation balance sheet?
In partnership balance sheet capital of all partners is shown while in corporate balance sheet capital of all share holders is shown.
The worksheet does not show?
The work sheet does not show the ending balance in the owner's manual.
What is the difference between accounting balance sheet and economic balance sheet?
Straight from my text, the difference is that an accounting balance sheet omits significant assets and liabilities and the accounting balance sheet does not report all assets and liabilities at their market value (the accounting balance sheet records a book value; ie the dollar value paid for an item). With respect to which assets and liabilities that are omitted, I am not sure.
What is difference between worksheet and balance sheet?
There is a difference between: Worksheet and Balance Sheet
How many worksheets does a balance sheet require?
You can create a balance sheet on one worksheet.
What is the difference between contingent liability and off balance sheet liability?
There is no difference between Contingent Liability and Off Balance Sheet Liability.
Difference between on balance sheet financing and off balance sheet financing?
In off-balance sheet financing assets are not shown in balance sheet while in balance sheet financing fixed assets shown in balance sheet.
Is there a difference between a merchandiser's balance sheet and a service company's balance sheet?
Yes in merchandiser balance sheet there is stock of items available in balance sheet while in services balance sheet there is no inventory item available.
Is there a difference between a partnership balance sheet and a corporation balance sheet?
In partnership balance sheet capital of all partners is shown while in corporate balance sheet capital of all share holders is shown.
What classification of accounts are shown in the balance sheet of a worksheet?
sales and expenses
What is the difference between a workbook and a worksheet in a computer program?
worksheet is single sheet of excel whereas number of worksheets come together as per requrements to form a workbook.
What is the difference between a worksheet and a chart in excel?
A worksheet is a collection of data on a page, organized in cells (e.g. table). A chart is the graphical representation of data in a particular format (e.g. pie chart, bar chart, etc.). Usually a chart is drawn based on a range of data from the worksheet.
The worksheet does not show?
The work sheet does not show the ending balance in the owner's manual.
What Classification of accounts are shown in the balance sheet section of a worksheet?
sales and expenses
How does an 8-column worksheet differ from a 10-column worksheet?
An 8-column worksheet is standard for the following: Unadjusted Trial Balance, Adjustments, Adjusted Trial Balance, Income Statement, and Balance Sheet. The 10-column worksheet has an extra two columns for the Post-Closing Trial Balance.
