Balancesheet preparation

CA STUDENT (Job) (73 Points)

05 April 2014  

Hi Every one,

Please make me clear for the below query

As if i am preparing balance sheet , do i need to first complete Liabilities Details after that Assets back i hwhile filling values?

Is there any order like i need to fill this section first after that this one?

Long back i heard that ,first we have to fill Liabilities first,reason is that what your business owes to outsoders and after that Assets,what your business ownes and concluded that have to fill and complete liabilities first.

Waiting for reply with good explanation meaning.