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Balance sheet

Khalid Masroor (Teacher) (99 Points)

01 July 2016

What is different between "As at" and "As on" in the title of Balance Sheet.

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5 Replies

CA Harshal Totla (Chartered Accountant) (2229 Points)
Replied 01 July 2016

Technically no difference, both are used simultaneously

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mohammad rasool baig (Management Consultant) (1026 Points)
Replied 02 July 2016

The difference between as on & as at is

As on - As on the date of the balance sheet (covers only day)

As at - As at the time of the balance sheet (covers both day & time of balance sheet)

Khalid Masroor (Teacher) (99 Points)
Replied 03 July 2016

dear sir, please write meaning of day and time with regard to balance sheet

mohammad rasool baig (Management Consultant) (1026 Points)
Replied 05 July 2016

The balance sheet presents a company's financial position at the end of a specified date. Some describe the balance sheet as a "snapshot" of the company's financial position at a point (a moment or an instant) in time. For example, the amounts reported on a balance sheet dated December 31, 2015 reflect that instant when all the transactions through December 31 have been recorded.

So as on means it suggests that transactions happened throughout the day - 31/03/2016

As at means it suggests that transactions happened at that point of time on such day - upto business hours of 31/03/2016