The Statement of Financial Position: Difference between revisions
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The statement of financial position (otherwise known as the balance sheet) gives a snapshot of the business at a certain date. It is designed to show the values of the owner's investment in the business. | The statement of financial position (otherwise known as the balance sheet) gives a snapshot of the [[business]] at a certain [[date]]. It is designed to show the values of the owner's [[investment]] in the business. | ||
It does this by using the [[Accounting Equation|accounting equation]]. | It does this by using the [[Accounting Equation|accounting equation]]. | ||
Latest revision as of 03:26, 5 August 2025
The statement of financial position (otherwise known as the balance sheet) gives a snapshot of the business at a certain date. It is designed to show the values of the owner's investment in the business.
It does this by using the accounting equation.