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  What is a Balance Sheet? (with examples) We made a balance sheet for "Bright Future Tech Ltd." It's a type of financial statement that shows the company's finances at a certain point in time, in this case December 31, 2023 .  It is set up to show what the company owns ( assets ), what it owes ( liabilities ), and how much stock each member has in the business. Here's a full breakdown: Assets are things that a company owns that it thinks will bring it money in the future. They can be broken down into two groups: Current Assets: Assets that will be turned into cash or used up within a year are called current assets. Here are some examples from our balance sheet: As well as cash, there is money in the bank and other types of cash. Customers owe a business money for goods or services that have been provided but not yet paid for. This is called accounts receivable . Inventory is the list of goods that can be bought by customers. Payments made ahead of time for th

Learning the Fundamentals: Crucial Excel Formulas for All Excel can greatly improve your capacity to organise and analyse data, whether you're a corporate professional, student, or someone trying to handle personal projects. Leveraging Excel's full capabilities requires an understanding of its fundamental formulae.  We'll go over some of the most crucial and often used Excel formulae here that will assist you in turning unstructured data into insightful analysis. 1. SUM : Adding Values The SUM function is one of the most frequently used formulas in Excel. It allows you to quickly add up a series of numbers. Formula/Syntax : =SUM(number1, [number2], ...) Example : =SUM(A2:A11) adds all the values from cells A2 to A11. 2. AVERAGE : Calculating the Mean Use the AVERAGE formula to find the mean of a series of numbers. This is particularly useful in data analysis to get a central value. Formula/Syntax : =AVERAGE(number1, [number2], ...) Example : =AVERAGE(A2:A11) calculates