Statement of financial statement or balance sheet is the most important component of financial statements. It represents the company’s total assets, total liabilities and stockholders’ equity. Statement of Financial position tells us the financial health of a business in terms of its resources both liquid and fixed by comparing both short- & long-term liabilities and owners’ equity.
A general format of statement of financial position is as follows.
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Assets |
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Current Assets |
50000 |
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Non-Current Assets |
250000 |
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Total assets |
300000 |
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Liabilities & Stockholders' Equity |
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Current Liabilities |
35000 |
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Long term Liabilities |
125000 |
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Total Liabilities |
160000 |
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Stockholders' Equity |
140000 |
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Total Liabilities & Stockholders' Equity |
300000 |
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