The activities of operations, finance, and investment define the financial domain in an organization. The financial statements of the organization record and summarize the financial transactions and activities in the aforesaid categories. The balance sheet portrays the precise financial position of an organization at a particular point of time. It contains details about all the organizational expenditures and income. The balance sheet consists of four financial components viz. assets, liabilities, and owner?s equity. The paper examines financial statements with emphasis on balance sheet. The ratio analysis is also discussed.