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French Equivalent: Compte de patrimoine – Eurostat

A balance sheet is a statement, drawn up at a particular point in time, of the values of assets owned and of liabilities outstanding. The balancing item is called net worth. In national accounts a balance sheet is drawn up for sectors, the total economy and the rest of the world. For a sector the balance sheet shows the value of all assets - produced, non-produced and financial - and liabilities and the sector’s net worth. For the total economy the balance sheet provides as balancing item what is often referred to as national wealth: the sum of non-financial assets and net financial assets with respect to the rest of the world.

The balance sheet for the rest of the world, called the external assets and liabilities account, consists entirely of financial assets and liabilities. In national accounts a balance sheet relates to the value of assets and liabilities at a particular moment of time. Balance sheets are compiled at the beginning of the accounting period (the same as the end of the preceding period) and at its end.

Provisions for the layout of the balance sheet for certain types of companies within the EU is given in Articles 9 and 10 of the Fourth Council Directive.

Source Publication:
ESA [7.01-7.02 and 7.07] and Fourth Council Directive (EEC), No. 78/660, of 25.07.1978 based on Article 54 (3) of the Treaty on the annual accounts of certain types of companies.

Cross References:
Balance sheet – SNA

Version Indicator: Eurostat

Statistical Theme: National accounts

Created on Tuesday, September 25, 2001

Last updated on Friday, February 28, 2003