From the course: Financial Accounting Foundations
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The balance sheet
- A balance sheet is a listing of a company's valuable resources, its assets, paired with a list of the sources of financing to buy those assets. Those sources of financing are liabilities, borrowed money, and equity items, which represent money invested by owners. If we look at the actual balance sheet for Walmart, you'll see that you already have a good intuitive understanding of the items in the balance sheet. Here is a listing of Walmart's assets as of January 31, 2019, in the left column and 2018 in the right column. Company's typically provide two years of balance sheet numbers side by side so that the balance sheet reader can detect any significant changes. Cash is the first asset listed. Cash is $7,722 million or $7.722 billion. Look at the third item in the list, inventories. Inventory is the stuff for sale on all of the shelves in all the Walmart and Sam's Club locations around the world. We're not…
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