Ah, yes. The basic Accounting equation. Assets = Liabilities + Owners' Equity.
I've become intimately reacquainted with the balance sheet since my summer class started. I was commenting to Greg that in the course of completing many a consolidated balance sheets, I've developed a disproportionate fear of the assets not equaling the liabilities and owners' equity.
This is, of course, not in a "real world" setting, but in a "do these assigned homework problems if you want to do well in the class" setting. Greg tells me that in the "real world," it doesn't happen very often - if at all - that the debits don't equal the credits (by virtue of it being a double entry accounting system and all that good stuff). Unfortunately, that doesn't really help me when doing homework problems. Or tests. Or having to write about variable interest entities. Bleh.