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WorksheetsStatement of Financial Position
Total questions: 15
Worksheet time: 8mins
These are used by investors, market analysts, and creditors to evaluate a company's financial health and earnings.
Statement of Financial Position
Financial Statements
Balance Sheet
Cash flows
Also called as Balance Sheet.
Statement of Financial Position
Financial Statements
Statement of Balance
Statement of Income
This is what the business owns.
Assets
Liablities
Loans
Owner's Equity
This is what the business owes.
Assets
Liabilities
Loans
Owner's Equity
What is NOT part of FS headings.
Name of the business
Title of Report
Total Assets
Date of the report
Two types of Financial Statement Account:
General and Journal Form
Report and Account Form
Statement of Cash flow and Income Statement
It is intended for sale or consumption within the entity’s normal operating cycle.
Non-current liabilities
Current liabilities
Non-current Assets
Current Assets
Also known as the "Long-term Assets"
Non-current Assets
Current Assets
Non-current liabilities
Current Liabilities
A liability expected to be settled in the entity’s normal operating cycle.
Non-current Assets
Current Assets
Non-current Liabilities
Current Liabilities
Refers to the financial obligations of a company that are not expected to be settled within one year.
Non-current Assets
Current Assets
Non-Current Liabilities
Current Liabilities
This is an example of
Report Form Balance Sheet
Account Form Balance Sheet
This is an example of
Report Form
Account Form
Following are accounts under _________________.
•Cash and cash equivalents
•Trade and other receivables
•Inventories
•Biological assets
•Investments
•Financial assets
•Investment property
•Property, plant, and equipment
Assets
Liabilities
Owner's Equity
Following are accounts under________.
•Trade and other payable
•Provision
•Financial liabilities
•Liabilities for taxes
Assets
Liabilities
Owner's Equity
Retained Earning can be found under _____________.
Assets
Liabilities
Owner's Equity
