What is balance sheet in SAP FI - Financial Accounting?

SAP Term: balance sheet

• Component: FI

• Component Name: Financial Accounting

• Description: A financial statement that shows the assets, liabilities, and equity of a company at a point in time balance sheet date.

Smart SAP Assistant

• Key Concepts: 
  A balance sheet is a financial statement used in SAP Financial Accounting (FI) to show a company’s assets, liabilities, and equity at a specific point in time. It is also known as a statement of financial position. The balance sheet is used to assess the financial health of a company and to provide insight into its liquidity, solvency, and capital structure. 
  
  How to use it: 
  In SAP FI, the balance sheet can be accessed through the Balance Sheet report. This report provides an overview of the company’s assets, liabilities, and equity at a given point in time. It can be used to assess the financial health of the company and to identify potential areas of improvement. 
  
  Tips & Tricks: 
  When reviewing the balance sheet, it is important to look at both the current and past balance sheets to identify any trends or changes in the company’s financial position. Additionally, it is important to compare the balance sheet with industry benchmarks to ensure that the company is performing in line with its peers. 
  
  Related Information: 
  The balance sheet is one of three primary financial statements used in SAP FI. The other two are the income statement and the statement of cash flows. All three statements are used together to provide an overall picture of a company’s financial health.