Title section

(a) Name of owner As with the profit and loss statement, a balance sheet must show the name of the owner and, where applicable, the business name.

(b) Date of report A balance sheet is prepared at a particular time rather than over a period of time as in the case of a profit and loss statement. For this reason, it is important to include the words ‘as at’ before the appropriate date, which also must be shown on the report.

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