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Difference between statements of financial position and balance sheets watch

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    The syllabus for IGCSE accounting has changed and that means candidates write statements of financial position rather than balance sheets. What are the main differences? Also, in the statement of financial position, which is the correct order:

    Non current assets, current assets, capital, non current liabilities, current liabilities
    OR
    Non current assets, current assets, current liabilities, non current liabilities, capital

    Thanks in advance.
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    (Original post by Alexis1729)
    The syllabus for IGCSE accounting has changed and that means candidates write statements of financial position rather than balance sheets. What are the main differences? Also, in the statement of financial position, which is the correct order:

    Non current assets, current assets, capital, non current liabilities, current liabilities
    OR
    Non current assets, current assets, current liabilities, non current liabilities, capital

    Thanks in advance.
    Hi there, the first one. Google igcse statement of financial position layout and the link To education.cambridge.org will come up with a bridging document showing you the layout. Remember also order of permanency under each section is important. So for example current assets always inventories, receivables etc. hope this helps
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    (Original post by 210555)
    Hi there, the first one. Google igcse statement of financial position layout and the link To education.cambridge.org will come up with a bridging document showing you the layout. Remember also order of permanency under each section is important. So for example current assets always inventories, receivables etc. hope this helps
    Thank you very much for looking at my post and for helping me! The document was very helpful as well!
 
 
 
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