Effective January 1, 2011, the Bank of Canada adopted International Financial Reporting Standards (IFRS). The monthly publication of the Statement of Financial Position has been discontinued as of ...

Prepare a financial position statement with current/non-current assets, equity, and liabilities. Complete simple financial statements for a sole trader. Explain and interpret its importance.

Statement of financial position (balance sheet) shows the value of what a business owns and owes at a specific point in time, indicating its overall value. The statement includes three main ...