Term of the Day balance sheet


Term of the Day

balance sheet

A quantitative summary of a company’s financial condition at a specific point in time, including assetsliabilities and net worth. The first part of a balance sheet shows all the productive assets a company owns, and the second part shows all the financing methods (such as liabilities and shareholders’ equity).also called statement of condition.

See also: List of Key Accounting Terms and Definitions at InvestorGuide.com.

Learn more about this term
Usage Example
To get an overall summary of the company’s finances as of today I looked at the balance sheet.
Advertisements

Term of the Day patronage


Term of the Day

patronage

Power to confer favors, give support and protection, or to appoint to office orpositionProviders of patronage (patrons) and receivers (clientsform anetwork through which access to various resources is obtained. It originates from unequal distribution of power and, since ancient times, is closely linked with corruption.
Learn more about this term
Usage Example
During elections many people give patronage in the form of financial support to the candidate who they believe is the best fit for the political office.