Items included on a company's balance sheet are known as "on-balance sheet items," Items that are "off-balance sheets" are not disclosed on a company's balance sheet. The firm's assets and liabilities appear on the balance sheet. At first look, commitments on the company's balance sheet add to its total risk.

On-balance sheet refers to items that are recorded on a company's balance sheet, such as assets, liabilities, and equity. Off-balance sheet, on the other hand, refers to items that are not recorded on the balance sheet but still impact a company's financial position.

On Balance sheet items are those that form part of the balance sheet of the company and are at the same time presented in the balance sheet whereas off balance sheet items are not recorded or presented in the balance sheet of the company but form part of the balance sheet.