Meaning of balance sheet

bal'ance sheet"

Pronunciation: [key]
— Accounting. Accounting.
  1. a tabular statement of both sides of a set of accounts in which the debit and credit balances add up as equal.
  2. a statement of the financial position of a business on a specified date.
Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.