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() Transaction Reference Number of Online Application for Net Asset Assessment (if any)IHKCIES01 Net Assets Statement for IHKCIES01 Application Form H K Personal Net Assets in the Two Years Preceding

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What is statement of financial position?

The statement of financial position, also known as a balance sheet, is a financial report that summarizes a company's assets, liabilities, and equity at a specific point in time.

Who is required to file statement of financial position?

Companies, organizations, and businesses that are required to prepare financial statements under relevant accounting standards or are mandated by law to file financial reports typically need to file a statement of financial position.

How to fill out statement of financial position?

To fill out a statement of financial position, list all assets (current and non-current) on one side, followed by liabilities (current and non-current) on the other side. The difference between total assets and total liabilities represents the equity.

What is the purpose of statement of financial position?

The purpose of the statement of financial position is to provide stakeholders with an overview of a company’s financial health, including what it owns and owes, as well as the residual interest of the owners.

What information must be reported on statement of financial position?

The statement of financial position must report total assets, total liabilities, and shareholders' equity, broken down into current and non-current categories.

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