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A (Consolidated) Statement of Financial Position (a.k.a. 'Balance Sheet') is a Financial statement of assets, liabilities and capital ('Equity') of a business or organization at the end of a given date. The primary purpose of the (Consolidated) Statement of Financial Position is to provide insights in a business's financial standing: What it owns ('Assets') and what it owes ('Liabilities' and 'Equity').

A key (balancing) principle of a Statement of Financial Positions is:

Assets = Liabilities + Equity

Where

• Assets = All current and long-term assets
  • Current assets: Cash, Receivables, Inventories, etc.
  • Long-term assets: Fixed assets (PP&E), Intangibles
• Liabilities = All current and long-term liabilities
  • Current liabilities: Payables (interest, rents, utilities, taxes, wages)
  • Long-term liabilities: Long term debt to acquire capital (loans, bonds), Pension fund liability, Deferred taxes
• Equity = All forms of owner, shareholder equity
  • Retained earnings, unissued stock certificates

Alternative names for Statement of Financial Position include: Consolidated Statement of Financial Position, Balance Sheet.

Related Financial Statements include: Statement of Comprehensive Income, Statement of Cash Flows, Statement of Changes in Equity.

Illustrative Example

A typical Statement of Financial Position consists of the following:

Statement of Financial Position

	CY $'000	CY-1 $'000
Assets
Non-current Assets
Property, Plant And Equipment	350,700	360,020
Goodwill	80,800	91,200
Other Intangible Assets	277,470	227,470
Investments in Associates	100,150	110,770
Investments in Equity Instruments	142,000	156,000
Total Non-current Assets	901,620	945,460
Current Assets
Inventories	135,230	132,500
Trade Receivables	91,600	110,800
Other Current Assets	25,650	12,540
Cash and Cash Equivalents	312,400	322,900
Total Current Assets	564,880	578,740
Total Assets	1,466,500	1,524,200
Equity and Liabilities
Equity
Share Capital	650,000	600,000
Retained Earnings	243,500	161,700
Other Equity	10,200	21,200
Total Equity	973,750	831,500
Liabilities
Non-current Liabilities
Long-term Borrowings	120,000	160,000
Deferred Tax	28,800	26,040
Long-term Provisions	28,850	52,240
Total Non-Current Liabilities	177,650	238,280
Current Liabilities
Trade And Other Payables	115,100	187,620
Short-term Borrowings	150,000	200,000
Current Portion of Long-term Borrowings	10,000	20,000
Current Tax Payable	35,000	42,000
Short-term Provisions	5,000	4,800
Total Current Liabilities	315,100	454,420
Total Liabilities	492,750	692,700
Total Equity and Liabilities	1,466,500	1,524,200

Example based on IFRS Taxonomy Illustrative Examples Asset Efficiency FAR

Metric(s)

ID	Name	Level	x
AE	Asset Efficiency	0	AE

Term(s)

ID	Name	Clear	x
AP	Accounts Payable		AP
AR	Accounts Receivable		AR
FG	Finished Goods		FG
IAS01	IAS 1 Presentation of Financial Statements		IAS01
IAS36	IAS 36 Impairment of Assets		IAS36
IAS37	IAS 37 Provisions, Contingent Liabilities & Contingent Assets		IAS37
IFRS10	IFRS 10 Consolidated Financial Statements		IFRS10
IFRS13	IFRS 13 Fair Value Measurement		IFRS13
IFRS16	IFRS 16 Leases		IFRS16
IFRS07	IFRS 7 Disclosures		IFRS07
IFRS	International Financial Reporting Standards		IFRS
INV	Inventory		INV
PP&E	Property, Plant & Equipment		PP&E
RM	Raw Material		RM
WIP	Work-in-Process		WIP
WC	Working Capital		WC

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Balance Sheet, Statement, Financial, Position, Asset, Liability, Capital, Finance & Accounting The financial statement of assets, liabilities and capital of an enterprise (a.k.a. 'Balance Sheet')