e balance sheet given by John Arnold, Tony Hope and Alan Southworth: "The balance sheet is the most inituitive and easily understood document of accounting. Most of us at some stage in our lives will be required to compute a listing of our possessions. Such a listing of possessions is a major element in the construction of a balance sheet.". Far from being a precise statement on what the balance sheet is, it can easily be perceived from a phylosofical and psychological view point, and then, though defined at present times, it can be related with the historical side of the balance sheet. The link is as simple as that: one would generally describe his possessions by listing the things he has and those that should be returned to him, as well as his debts to other people, further more, he would intuitively put those "lists" on the scales to find out what his financial state is, or "to get the balance". To extend this etimological analogy a bit more, by putting on the different sides of the scales the lists of his possessions and his debts, one would, probably
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