Personal Statement Of Financial Position Is The Balance Sheet. In relation to the financial statement, a balance sheet's information reflects activity over a set financial period. Statement of financial position, also known as the balance sheet, presents the financial position of an entity at a given date.
While the balance sheet can be prepared at any time, it is. Balance sheet (also known as the statement of financial position) is a financial statement that shows the assets, liabilities and owner’s equity of a business at a particular date.the main purpose of preparing a balance sheet is to disclose the financial position of a business enterprise at a given date. Statement of financial position (balance sheet) 2.1 statement of financial position overview.