[GNC] Balance sheet report period
Rich Shepard
rshepard at appl-ecosys.com
Wed Jul 3 09:30:12 EDT 2019
On Wed, 3 Jul 2019, benny.webster at gmail.com wrote:
> The balance sheet is a snapshot in time. It reflects the asset, liability
> and equity account balances as of the date you choose. Compare two or more
> balance sheets to see how those balances change over time (eg. month-end
> to month-end or year-end to year-end). Income and cash flow statements
> cover a period of time and should reflect the changes in the balance sheet
> accounts.
Benny,
That makes sense. Since I'm not an accountant I did not recognize that it's
a snapshot and thought it represented an unspecified time range up to the
current (or otherwise selected) date.
Thanks for clarifying,
Rich
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