√ Balance sheet is an accountant's snapshot of the firm's accounting value on a particular date (at the fiscal year end of 20xx).
Assets =Liabilities + Owners' equity
※涉及词汇、词组：
资产部分
decreasing liquidity: 流动型递减；
fair market value: 公允市场价值；
cash and cash equivalent:现金及现金等价物；
prepaid expenses: 待摊费用
negotiable instrument: 可转让票据
checks and money orders：支票和汇票
credit sales：赊销
overdue： 过期的
rent：租金
insurance permium：保险费
PPE( propety, plant, and equipment)：土地、厂房和设备
useful life:使用年限
depreciation expense：折旧费用
accumulated depreciation and amortization：累计折旧和摊销
intangible asset：无形资产
patent：专利
copyright：版权
trademark：商标
负债部分
short-term maturing obligation：短期到期债务
account payable：应付账款
note payable：应付票据
accrued expense：应计费用
long-term debt：长期负债
deferred tax：递延税金
所有者权益部分
capital surplus：资本盈余
accumulated retained earning：累计留存收益
hybrid：混合物
proceeds：收益（注意：这不是复数）
treasury stock：库存股
More examples
EXAMPLE 1: Consolidated Statement from China Communication Construction
※区分subsidiary，joint ventures 和associates
Subsidiary:控股子公司（进入合并报表）；associates:联营企业（即A\B联营产生C）；joint venture:合营企业（即A持有B20-50%股份)
Trade &other receivables:贸易及其他应收
EXAMPLE 2: Consolidated Balance Sheet from Alibaba
Historical Cost VS. Current Market Value
Historical Cost
The historical cost of an asset is the price when the company acquires the asset. The historical cost of a liability is the amount involved when the firm incurs the liability.
Current Market Value
Especially for real estate and stockholders' equity——long-term investment are reported at their fair market value
