Definition: Opening balance sheet
The opening balance sheet records the value of assets and liabilities held by units at the start of the accounting period.
These items are categorised on the basis of the classification of assets and liabilities.
They are valued at prices current at the start of the accounting period.
The difference between assets and liabilities - the balancing item in the account - is the net worth at the start of the accounting period.
Eurostat, "European System of Accounts - ESA 1995", Office for Official Publications of the European Communities, Luxembourg, 1996