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A balance sheet tells you more about a business than almost any other document — but a lot of people struggle to read it correctly.

This video breaks it down from the ground up. We start with the core equation that every balance sheet is built on, work through a simple step-by-step example, and finish by applying the same logic to Shopify’s latest financials.

By the end of 15 minutes you’ll know what assets, liabilities and equity actually mean, why the current vs. long-term distinction matters, and how to spot what a balance sheet is really saying about a business.