Balance Sheet Account

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Balance Sheet Account

Any account owned by a company that is not closed out over the course of a year. Examples of balance sheet accounts include accounts payable and accounts receivable. A balance sheet account contrasts with an income account, which is closed out because it was paid in full. Balance sheet accounts are listed on a balance sheet.
References in periodicals archive ?
In the 12b-25 the Company stated that the earlier errors with respect to the ASC 606 transitional adjustment impacted certain balance sheet accounts as of June 30, 2016 and certain balance sheet accounts as reported in the first three quarters of the fiscal year ended June 30, 2019.
Contract notice: framework agreement relating to accounting services for centralesuplec and the conclusion of the first subsequent contract (ms1) relating to the quality adjustment of centralesuplec~s balance sheet accounts and an accompanying mission on the budget accounting methodology for products related to training
That, in addition to settling transactions, and verifying and reconciling balance sheet accounts.
In the General Compulsory Scheme of Accounts, published in accordance with the 1988 Decree, balance sheet accounts and result accounts are distinctly separated, permitting the drawing up of the balance sheet and of a profit and loss account equivalent to it, which are supplemented by cost accounts.
"The revenue" account from the chart of accounts of public institutions, from the point of view of content and function, is similar in content, to a greater extent, to the revenue account from the general accounting plan, meaning that the credit balance can be found in the balance sheet accounts (Mosteanu, 1997).
A common approach to this is "risk ranking" balance sheet accounts with a designation of high, medium, or low.
Both the NIPAs and the FAUS provide data for the other changes in volume, revaluation, and balance sheet accounts. (4)
Businesses need to work through all balance sheet accounts, cash accounts, and make sure depreciation is recorded.
In another example, a global commerce giant--with more than 100 legal entities around the world--struggled continually to reconcile hundreds of balance sheet accounts for each of Its operations.
Sources: Adva Center analysis of CBS, National Balance Sheet Accounts 2009, Publication No.
More than 90 per cent of companies still manually reconcile their balance sheet accounts and most of them use Microsoft Excel spreadsheets.