---
title: "What Is Balance sheet? Dental Practice Glossary"
description: "A balance sheet is a report of what a practice owns, what it owes and what is left for the owners on a single date."
url: https://joncopeland.multisites.ai/glossary/balance-sheet
publisher: Copeland Consulting Services
email: drcopeland@joncopelanddds.com
contact: https://joncopeland.multisites.ai/contact
---

Finance and valuation

# Balance sheet

A balance sheet is a report of what a practice owns, what it owes and what is left for the owners on a single date.

The SBA's financial glossary says a balance sheet, also called a statement of financial position, reports an entity's assets, liabilities and equity (net worth) at a specific time. Assets include cash, [accounts receivable](https://joncopeland.multisites.ai/glossary/accounts-receivable), inventory and equipment. Liabilities include loans, such as a [practice loan](https://joncopeland.multisites.ai/glossary/practice-loan), and bills due. The SEC's beginner guide makes the same point in plainer words: a balance sheet shows what a company owns and what it owes at a fixed point in time. Unlike a [profit and loss statement](https://joncopeland.multisites.ai/glossary/profit-and-loss-statement), which covers a period, a balance sheet is a snapshot. Lenders and buyers use it with other statements.

[Next stepPractice consulting with Dr. Copeland](https://joncopeland.multisites.ai/contact?topic=consulting)

## Related terms

-   [Profit and loss statement](https://joncopeland.multisites.ai/glossary/profit-and-loss-statement)
-   [Cash flow](https://joncopeland.multisites.ai/glossary/cash-flow)
-   [Accounts receivable](https://joncopeland.multisites.ai/glossary/accounts-receivable)
-   [Working capital](https://joncopeland.multisites.ai/glossary/working-capital)

## Sources

1.  [SBA, Glossary of Business Financial Terms](https://www.sba.gov/document/support--glossary-business-financial-terms)

## Talk with Dr. Copeland

[Contact Dr. Copeland](https://joncopeland.multisites.ai/contact)[Email](mailto:drcopeland@joncopelanddds.com)