Statement of Financial Position format

ASSETS = LIABILITIES + EQUITY

Assets: Non-current assets and Current assets
Liabilities: Non-current liabilities and Current liabilities
Equity: Share Capital and Reserves (Share Premium, Property Revaluation reserves, Retained Earnings, etc)

A = L + E format A – L = E format A – CL = E + NCL format

e.g., Yau Lee Holdings e.g., Johnson Electric e.g., Far East Holdings

ASSETS ASSETS AND LIABILITIES

Non-current assets 9,000 Non-current assets 9,000 Non-current assets 9,000

Current assets 8,000 Current assets 8,000 Current assets 8,000

Total assets $17,000 Current liabilities (5,000) Current liabilities (5,000)

EQUITY Net current assets 3,000 Net current assets 3,000

Share Capital 1,000 Total assets less current liabilities 12,000
Reserves 7,000 Total assets less current liabilities $12,000
Total equity 8,000 Non-current liabilities (4,000)
LIABILITIES
Non-current liabilities 4,000 Net assets $8,000
Current liabilities 5,000 EQUITY
Total liabilities 9,000 Share Capital 1,000
EQUITY Reserves 7,000
Total equity and liabilities $17,000 Share Capital 1,000 Total equity 8,000
Reserves 7,000
Net current assets $3,000 Total equity $8,000 Non-current liabilities 4,000
$12,000
Total assets less current liabilities $12,000