Let’s look at a real-world example of a balance sheet and how to read it. Here’s a shot of Shopify ‘s (TSX: SHOP) balance sheet as things stood at the end of December 2022: ...

The balance sheet, income statement, and cash flow statement: these offer an inside look at a company. Browse Investopedia’s expert-written library to learn more.

For example, a company's financial statements for the month of September will contain a balance sheet as of September 30th and an income statement for the entire month of September.

This means they have a useful life of more than one year. Fixed assets include property, plant, and equipment (PPE) and may be recorded on the company's balance sheet under that classification.