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Position Statement Definition - What Is Statement Of Financial Position?

What is Position Statement?

Position statement is also called as balance sheet, which reflects the financial position of
the firm at the end of the financial year.

Statement Of Financial Position
[Post Image Courtesy of DDPavumba at FreeDigitalPhotos.net]

Position statement helps to ascertain and understand the total assets, liabilities and
capital of the firm. One can understand the strength and weakness of the concern with
the help of the position statement.

About Author Mohamed Abu 'l-Gharaniq

when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries.

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