Home page               Download material                Accounting topics                Accounting dictionary                Financial calculators

Home » Accounting Dictionary » Letter S » Statement of Affairs Definition
 
 

A   B   C   D   E   F   G   H   I   J   K     M   N   O   P   Q   R   S   T   U   V   W   X   Y   Z

 

Statement of Affairs Definition:

A statement from which the capital of the owner can be found by estimating assets and liabilities. Then:

Capital = Assets - Liabilities

It is the equivalent of the balance sheet. Statement of affairs is prepared when you are dealing with single entry system or preparing accounts from incomplete records.

New Page 1

A D V E R T I S E M E N T

 

 

 

 

 

 

Home                         Download material                         Contact us                         Privacy policy                         Link to us                         Advertise

Copyright © 2011