The balance sheet method is considered to be the mainstream analysis tool to describe a country’s debt crisis risk and re-interpret the risk. Preparation and analysis of the government balance sheet liabilities can be a comprehensive study of government balance sheet assets and liabilities overally and a comprehensive measure of a country’s government risk, and in-depth analysis of the risk formation the mechanism, transmission mechanism and its profound impact on macro economy. The UK is one of the earliest western countries which studies the national economic accounting (including accounting balance). The study and analysis of preparation of the government balance sheet its statistical department and financial department is an important reference for China’s establishment of the government balance sheet analysis. Therefore, this paper has carried on a comparative analysis to this topic.