A balance sheet is a picture at a specific point in time (usually month end, quarter end, year end) that details the company Assets, Liabilities and Equity. Note that Assets must equal Liabilities and Equity in the double entry accounting system.Assets typically comprise:Cash, Receivables, Inventory, Fixed assets, Intangible assets.Liabilties typically include:Accounts payable, wages payable, taxes payable, accrued exenses, etcDebt - if anyOwner equity:Depends on capital structurePick a large company that you enjoy following and read their balance sheets and related disclosures. Balance sheets are included with income and cash flow statements in the annual reports and quarterly filings for public companies.