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Snapshot, not a story

Snapshot, not a story

Structure of a statement of financial position showing assets, liabilities, equity and reserves, plus how net current assets and net assets are calculated

A statement of financial position, also called a balance sheet, shows what a business owns, what it owes, and the owners' financial claim at one specific date. It is a snapshot, not a running story of everything that happened during the year.

Statement of financial position Lesson

  1. A Level
  2. /Business
  3. /Statement of financial position

Step-by-step lessons on OCR A Level Business Statement of financial position. Each one builds up to exam-style questions. Build up your knowledge of the core business functions first, then focus revision time on the strategy and evaluation-heavy topics, since these carry the most marks.

Lessons