A balance sheet is a statement of the financial condition of a business at a definite period in time. The activities of a business fall into two separate groups that are reported by an accountant. They are profit-making activities, which comprise of sales and expenses. This can also be referred to as operating activities. There are also financing and investing activities that consist of securing money from debt and equity sources of capital, returning capital to these sources, making distributions from profit to the owners, making investments in assets and eventually disposing of the assets.