We use the following user story to understand the needs of the business users that require a balance sheet.
As an executive, I want to understand the overall financial health of the business so that I can create the necessary strategy to ensure its future.
The balance sheet is a complete analysis of a company's financial situation. It is the sum of all GJ amounts divided into three principal groups: assets, liabilities, and capital. The income statement from the previous section is a small part of the balance sheet that is classified as Retained Earnings in the capital account group. The following is an example balance sheet:
Unlike an income statement where we only see financial movements over a certain period of time, a balance sheet shows us an accumulated total of all the financial movements that have occurred prior to the selected month. Another requirement is that total assets must always be equal to the sum of liabilities and capital.
Also, we often divide assets, liabilities...