Statement of Financial Position

-balance sheet

-amounts of the company’s total assets, liabilities, and owner’s equity

EXAMPLE

▪ Cash

▪ Accounts

Receivable

▪ Accounts Payable

▪ Loans Payable

▪ Capital

ASSETS these are properties or things of value

such as cash, equipment, inventories

CONTRA ASSETS are those accounts

that are presented under the assets

portion of the SFP

CURRENT ASSETS - Assets that cannot be

realized in one year

Ex: Cash, Accounts Receivable,

Merchandise Inventory, Prepaid Expense,

NON-CURRENT ASSETS - Assets that

cannot be realized in one year

Ex: Property, Plant and Equipment

(equipment, furniture, building, land)

OWNER’S EQUITY - the residual

interest in the assets after deducting all its

liabilities.

Report Form

•patay

It seems like your message got cut off. Please provide the specific topic you would like key vocabulary and phrases for, and I'll be happy to help!

o

Account form

•pahiga