Financial Position

The total resources controlled by a business and total claims against those resources, at a single point in time. Accounting data which express the financial position are presented in a statement of financial position (commonly referred to as a balance sheet). Measures of financial position provide an indication of the capacity of the business to withstand risk from future operations and provide a benchmark against which to measure the results of future business decisions. (I-1-6; II-1, 4, 7, 11, 13, 18, 37, 42; III-1-4, 8-10)

Authorization Path: 2.2.5.2.43.1