Financial Position Statement Flashcards
1
Q
STATEMENT OF FINANCIAL POSITION
A
It shows the assets, liabilities and a capital of a business
2
Q
IMPORTANCE
A
1) The actual value or worth of a business
2) Compare trends over time
3) Indicates levels of debt (borrowing)
4) ST debts and LT debts
3
Q
NON CURRENT ASSETS
A
LT ASSETS
4
Q
CURRENT ASSETS
A
ST ASSETS
5
Q
CURRENT LIABILITIES
A
ST DEBTS
6
Q
NON CURRENT LIABILITIES
A
LT DEBTS
