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Diploma in Higher Education Studies

The balance sheet

HES 201 · Introductory Accounting — Week 10 of 16

CourseHES 201
Week10 of 16
SemesterII
TutorOnline in the course chat

This week’s topics

The balance sheet

  1. Layout of the statement
  2. Why it must balance

What you will be able to do

  • 3.2 Prepare a simple Statement of Financial Position.

Activity

Prepare a simple balance sheet from a list of balances.

Study materials

Further resources

  • Principles of Accounting Vol. 1, ch. 2.3: Prepare an income statement and balance sheet · PDF · OpenStax (2019), layouts; pp. 71–81 · for registered students
  • Introduction to Business 2e, ch. 14.4: The balance sheet · PDF · OpenStax (2026), why it balances; pp. 484–486 · for registered students
  • Climate Change Related Risks and the Financial Statements of Small Businesses · Open-access article · Negash (2025), Small Business Institute Journal. Shows how assets and liabilities appear on the balance sheet and why it balances. · for registered students
  • The Future of Business Reporting: A Review Article · Open-access article · Beattie (2000), Irish Accounting Review. Reviews what annual reports and financial statements contain and what users want added; tutor level. · for registered students
Materials marked “for registered students” open in the student portal, which is set up as soon as you receive final acceptance.
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Course plan
  • Week 1: Why businesses keep financial records
  • Week 2: Who uses accounts?
  • Week 3: Income, expenses and profit
  • Week 4: Assets, liabilities and capital
  • Week 5: The accounting equation
  • Week 6: Double entry: debits and credits
  • Week 7: Recording sales, purchases and cash
  • Midterm: Midterm evaluation
  • Week 9: The income statement (profit and loss)
  • Week 10: The balance sheet
  • Week 11: Profit is not the same as cash
  • Week 12: Cash flow forecasts
  • Week 13: Ratios: how profitable is the business?
  • Week 14: Ratios: can the business pay its bills?
  • Week 15: Review and coursework completion
  • Final: Final assessment and submission
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