Balance sheet date
/What is the Balance Sheet Date?
The balance sheet date is a date as of which the information in a statement of financial position is stated. This date is usually the end of a month, quarter, or year. The balance sheet contains information as of a specific date, rather than for a reporting range, since it only contains information about the status of an entity's assets, liabilities, and equity; it does not contain any information that pertains to a range of dates, such as sales, profits, or cash flows. A balance sheet date appears in the header of the following exhibit, which portrays a complete balance sheet.
The balance sheet date is a specific point in time, which is not the case for the income statement and statement of cash flows. These other two financial statements contain summarizations of the activities that occurred during a range of dates (typically for an entire month or year).