Definitions for "Statement of Financial Position"
The basic financial statement that discloses the assets, liabilities, and equities of an entity at a specified date in conformity with Generally Accepted Accounting Principles.
A financial statement that reports a company's assets and the claims against them (liabilities and stockholders' equity) at a set date noted on the statement. Also called balance sheet.
This statement can also be known as the Balance Sheet. It reports the organization's assets, liabilities and net assets (fund balances) at a specified date to show the overall net worth (or net loss).