The statement of financial position summarizes a company's assets, liabilities and equity at a point in time using the accounting equation. It shows the effects of business transactions by reflecting changes to accounts as a result of revenues, expenses, and investments. The statement is a snapshot of a company's financial position at a moment in time.

1. THE STATEMENT OF FINANCIAL
POSITION AND THE EFFECTS OF
BUSINESS TRANSACTION
MUDASSIR RAZA

2. THE STATEMENT OF FINANCIAL POSITION AND THE
EFFECTS OF BUSINESS TRANSACTION
The accounting equation is expressed in a financial report called the statement of
financial position.
The statement of financial position shows the financial position of an organization
at a point in time.

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