Rural entrepreneurship in Wales
Rural entrepreneurship in Wales

Start this free course now. Just create an account and sign in. Enrol and complete the course for a free statement of participation or digital badge if available.

Free course

Rural entrepreneurship in Wales

5.3.4 Balance sheet

Although we are not going to deal with balance sheets here in detail – that is considered to be something that should be dealt with by an accountant – a short description will be helpful.

A balance sheet matches (or balances) sources of finance to the resources funded by these sources of finance, at a particular point in time. It is customary to prepare one balance sheet at the start of a financial period and another at the end. If the net worth of an organisation increases or decreases during that period, the difference will be explained by what the profit-and-loss and cash flow statements tell us about operations and finances during the year. The balance sheet, profit and loss and cash flow are thus all interlinked.

GB093_2

Take your learning further

Making the decision to study can be a big step, which is why you'll want a trusted University. The Open University has 50 years’ experience delivering flexible learning and 170,000 students are studying with us right now. Take a look at all Open University courses.

If you are new to University-level study, we offer two introductory routes to our qualifications. You could either choose to start with an Access module, or a module which allows you to count your previous learning towards an Open University qualification. Read our guide on Where to take your learning next for more information.

Not ready for formal University study? Then browse over 1000 free courses on OpenLearn and sign up to our newsletter to hear about new free courses as they are released.

Every year, thousands of students decide to study with The Open University. With over 120 qualifications, we’ve got the right course for you.

Request an Open University prospectus371