The report presenting the financial condition of an organization as of a particular date is called a:

The report that presents the financial condition of an organization as of a specific date is known as a balance sheet. This document provides a snapshot of an organization’s assets, liabilities, and equity at a particular moment in time, allowing stakeholders to assess the financial health of the entity.

The balance sheet follows the accounting equation: Assets = Liabilities + Equity. This structure helps in understanding how much the organization owns versus what it owes, as well as the residual interest of the owners in the assets of the business.

In contrast, a budget outlines future financial plans and projections rather than the current financial status. An income statement reports on the performance of the organization over a period of time, detailing revenues and expenses to calculate net income, which is different from assessing the financial position at a specific date. A funds flow sheet shows the sources and uses of funds during a specific period, focusing on cash flow rather than summarizing overall financial standing at a particular point in time.