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    • Benefits
    • 0. Introduction
    • 1. Funding Butterfly
    • 2. BaSIS Framework
    • 3. Classic Tx - v6.0X >
      • Tx01. Loan
      • Tx02. Contributed equity
      • Tx03. Repay loan
      • Tx04. Purchase equipment
      • Tx05. Purchase inventory
      • Tx06. Cash Sale COS
      • Tx07. Window cleaner
      • Tx08. Credit Sale COS
      • Tx09. Shop cleaning
      • Tx10. Gift card
      • Tx11. Account received
      • Tx12. Prepaid Sale COS
      • Tx13. Prepaid advertising
      • Tx14. Depreciation
      • Tx15. Advertising
      • Tx16. Pay supplier
    • 3. Classic Tx PizzaBox >
      • Tx01. Loan
      • Tx02. Contributed equity
      • Tx03. Repay loan
      • Tx04. Purchase equipment
      • Tx05. Purchase inventory
      • Tx06. Cash Sale COS
      • Tx07. Window cleaner
      • Tx08. Credit Sale COS
      • Tx09. Shop cleaning
      • Tx10. Gift card
      • Tx11. Account received
      • Tx12. Prepaid Sale COS
      • Tx13. Prepaid advertising
      • Tx14. Depreciation
      • Tx15. Advertising
    • 4. Summary learnings
    • 5. Business narrative
    • 6. Extenders
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Picture

Lesson 6: The Balance Sheet

The Balance Sheet is often described as a 'snapshot' of the financial position of an entity at a moment in time. The monetary value of the assets together with the obligations of the business to the lenders (creditors) and the owners. And all expressed in the 'voice' of the business.

​In the video below, we re-cap the funding butterfly and shows how it links to the Accounting Equation and the traditional Balance Sheet.

[Duration 4:55]​

In this video, Peter Frampton re-caps how the butterfly becomes the BaSIS Framework, and demonstrates how double-entry accounting appears by using some start-up style transactions.

[Duration 4:47}

Extenders
  1. What if Sipho owned the land and the buildings for his shop. Over time, the land becomes more valuable, and therefore the Assets have increased in value. Who (Creditors or Owners) gets to claim the value increase? Explain.
  2. Can a Balance Sheet be out of balance?
  3. What are your thoughts about Sipho’s asset mix.

Resources
  1. Student Workbook - Lesson 6 [1.2MB] - download​​
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  • Home
  • Color-Accounting-Bootcamp
    • Benefits
    • 0. Introduction
    • 1. Funding Butterfly
    • 2. BaSIS Framework
    • 3. Classic Tx - v6.0X >
      • Tx01. Loan
      • Tx02. Contributed equity
      • Tx03. Repay loan
      • Tx04. Purchase equipment
      • Tx05. Purchase inventory
      • Tx06. Cash Sale COS
      • Tx07. Window cleaner
      • Tx08. Credit Sale COS
      • Tx09. Shop cleaning
      • Tx10. Gift card
      • Tx11. Account received
      • Tx12. Prepaid Sale COS
      • Tx13. Prepaid advertising
      • Tx14. Depreciation
      • Tx15. Advertising
      • Tx16. Pay supplier
    • 3. Classic Tx PizzaBox >
      • Tx01. Loan
      • Tx02. Contributed equity
      • Tx03. Repay loan
      • Tx04. Purchase equipment
      • Tx05. Purchase inventory
      • Tx06. Cash Sale COS
      • Tx07. Window cleaner
      • Tx08. Credit Sale COS
      • Tx09. Shop cleaning
      • Tx10. Gift card
      • Tx11. Account received
      • Tx12. Prepaid Sale COS
      • Tx13. Prepaid advertising
      • Tx14. Depreciation
      • Tx15. Advertising
    • 4. Summary learnings
    • 5. Business narrative
    • 6. Extenders
  • Virtual Learning
  • Teachers
  • Store
  • More
    • SeanStuff
    • Color Accounting
    • Curriculum Approach >
      • Menu page
    • Support
    • Gallery
    • LMS plans
    • Contact Us
    • Newsletter
    • Legal notices >
      • IP Rights