Equation in Balance Sheet
Balance sheet ( sometime called statement of financial position) is reported summary about financial position for company such as asset, liability and equity (capital).
Equation in balance sheet :
Asset= Liability + equity
Assets are classified two kinds : current assets ( less or equal one year) and long term asset ( greater than one year).
Liabilities are classified two kinds: current liabilities ( less or equal one year) and long term liabilities ( greater than one year).
Equity is called capital sometime.