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The Regulatory Framework of Financial Reporting
4.2 Statement of financial position
The statement of financial position is s statement of assets and liabilities of a
business entity as at a specific date as follows:
Assets $ Capital + Liabilities $
Non-current assets Capital X
Land X
Buildings X
Machinery X
––– Non-current liabilities
X Bank loan X
Current assets
Inventories X Current liabilities
Receivables X Payables X
Bank balance X Bank overdraft X
Cash in hand X
–––
X
––– –––
X X
––– –––
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