Meaning of the word "statement of financial position" in English
What does "statement of financial position" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.
statement of financial position
US /ˈsteɪtmənt əv faɪˈnænʃəl pəˈzɪʃən/
UK /ˈsteɪtmənt əv faɪˈnænʃəl pəˈzɪʃən/
Noun
a financial statement that reports a company's assets, liabilities, and equity at a specific point in time
Example:
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The accountant prepared the statement of financial position at the end of the fiscal year.
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Investors often review the statement of financial position to assess a company's solvency.
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