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Balance sheet total. Balance sheet total noun in the united kingdom the total of assets shown at the bottom of a balance sheet and used to classify a company according to size what is balance sheet total. Balance sheet substantiation is a key control process in the sox 404 top down risk assessment. Just been thinking and wondered exactly what is meant by balance sheet total.

The total net worth of an organization as shown at the bottom of the balance sheet ie. The fixed assets plus net current assets less long term liabilities. Balance sheet total means fixed assets plus current assets it is not to be confused with the total which appears twice in the balance sheet.

Property plant and equipment. Balance sheet current assets. Accounts payables or ap is the amount a company owes suppliers.

The following balance sheet is a very brief example prepared in accordance with ifrs. In the qualification conditions for small company and medium sized company exemptions the balance sheet total is the total of fixed and current assets before deduction of current and long term liabilities. Just had a meeting with accountant who told me my company needs an audit because the balance sheet total exceeds 326million.

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