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My Self Help U
12/9/2025
FABM
FABM (Statement of Financial Position)
141
•
Dec 9, 2025
•
My Self Help U
@myself_help_u
The Statement of Financial Position (SFP) might sound super complicated,... Show more
Ever wondered how businesses keep track of their money? The Statement of Financial Position is basically like a company's financial ID card. It shows everything Belen Electronic Shop owns and owes as of December 31, 2024.
Here's the magic formula that makes everything work: Assets = Liabilities + Equity. This equation must always balance perfectly - that's why we call it a balance sheet! If your total assets don't equal your total liabilities plus equity, something's definitely wrong with your calculations.
Quick Tip: Always double-check that both sides of your SFP are equal. If they're not, go back and find your mistake before submitting!
The beauty of this document is its simplicity - it gives you a complete picture of a company's financial health in just one page.
Before diving deep into financial statements, you need to know the 5 major accounts that rule accounting: Assets, Liabilities, Equity, Income, and Expenses. But here's what's cool - only the first three show up in your SFP!
The Statement of Financial Position is essentially a document that records everything a company owns (its resources) while also keeping track of what it owes to others. Think of it as the company's complete financial inventory.
Remember: The SFP only deals with Assets, Liabilities, and Equity - Income and Expenses belong in other financial statements!
Why does this matter? Because the SFP shows your business's financial condition at any given moment, helping you understand exactly where the company stands financially.
Your SFP isn't just busy work - it's actually super practical! It shows what a business owns versus what it owes to creditors and owners. Plus, it helps assess whether a company can pay its bills through liquidity (paying within a year) and solvency (paying beyond a year).
Assets are basically everything a company owns - think of them as "pagmamay-ari mo." These are resources used to generate revenue and keep the business running.
Assets come in two main flavors: Current Assets (easy to liquidate and used within a year) and Non-current Assets (harder to dispose of and used for more than a year). This distinction helps you understand how quickly a company can turn its stuff into cash.
Key Insight: Current assets are your financial lifeline - they're what keeps your business running day-to-day!
Current Assets are your business's most flexible resources. Let's break them down: Cash and Cash Equivalents are obvious, while Marketable Securities are investments you can sell quickly.
Trade and other Receivables include money people owe you - like Accounts Receivable, Notes Receivable, Interest Receivable, and Advances to Employees. Don't forget about Inventories (for merchandising businesses only) and Prepaid Expenses (advance payments like rent).
Here's a tricky part: Allowance for Bad Debts gets subtracted from your Accounts Receivable. If there's no amount listed, you don't subtract anything. This account helps you be realistic about money you might never collect.
Pro Tip: Always list Allowance for Bad Debts right after Accounts Receivable, then subtract it to get your net receivable amount!
Property, Plant, and Equipment (PPE) are tangible assets you can see and touch - like Land, Buildings, Equipment, and Furniture. These must be used in operations, not held for sale. Land never depreciates, but buildings and equipment do!
Accumulated Depreciation gets subtracted from PPE. For example, if a building costs ₱1.5 million and you depreciate it over 12 months, that's ₱125,000 per month in accumulated depreciation.
Intangible Assets are valuable things you can't physically touch - like Franchises, Brand names, Patents, Trademarks, and Copyrights. These assets often represent significant value even though they're not physical.
Remember: PPE items must be "for use only" - if you're planning to sell that building, it doesn't belong in this category!
Liabilities are simply your business's debts - money you owe to other people, companies, or institutions. Just like assets, they're divided by time: Current Liabilities (paid within 12 months) and Non-Current Liabilities (paid beyond one year).
Current liabilities include Accounts Payable, Notes Payable, Loans Payable, Utilities Payable, Unearned Revenues, and Accrued Liabilities. The key is the maturity date - if there's no specific year mentioned, assume it's current.
Non-current liabilities are the big, long-term debts like Mortgage Payable, Bonds Payable, and Installment Contracts Payable. These are commitments that extend well into the future.
Quick Check: Look for maturity dates! If a loan says "due in 2 years," it's non-current. If it just says "Notes Payable" with no timeline, treat it as current.
Equity represents the owners' stake in the business after all debts are paid. Think of it as what's left over when you subtract liabilities from assets - it's the residual interest that belongs to the owners.
Equity gets affected by net income or net loss from operations, and also by owner's withdrawals. For partnerships, you'll see capital balances for each partner, while corporations show stocks and retained earnings.
The main subclassifications are Capital and Drawing - but here's the catch: Drawing gets deducted from Capital. So if an owner takes money out of the business, it reduces their equity stake.
Key Point: Drawing reduces the owner's equity - it's not an expense, but it does decrease what the owner has invested in the business!
Our AI companion is specifically built for the needs of students. Based on the millions of content pieces we have on the platform we can provide truly meaningful and relevant answers to students. But its not only about answers, the companion is even more about guiding students through their daily learning challenges, with personalised study plans, quizzes or content pieces in the chat and 100% personalisation based on the students skills and developments.
You can download the app in the Google Play Store and in the Apple App Store.
That's right! Enjoy free access to study content, connect with fellow students, and get instant help – all at your fingertips.
App Store
Google Play
The app is very easy to use and well designed. I have found everything I was looking for so far and have been able to learn a lot from the presentations! I will definitely use the app for a class assignment! And of course it also helps a lot as an inspiration.
Stefan S
iOS user
This app is really great. There are so many study notes and help [...]. My problem subject is French, for example, and the app has so many options for help. Thanks to this app, I have improved my French. I would recommend it to anyone.
Samantha Klich
Android user
Wow, I am really amazed. I just tried the app because I've seen it advertised many times and was absolutely stunned. This app is THE HELP you want for school and above all, it offers so many things, such as workouts and fact sheets, which have been VERY helpful to me personally.
Anna
iOS user
I think it’s very much worth it and you’ll end up using it a lot once you get the hang of it and even after looking at others notes you can still ask your Artificial intelligence buddy the question and ask to simplify it if you still don’t get it!!! In the end I think it’s worth it 😊👍 ⚠️Also DID I MENTION ITS FREEE YOU DON’T HAVE TO PAY FOR ANYTHING AND STILL GET YOUR GRADES IN PERFECTLY❗️❗️⚠️
Thomas R
iOS user
Knowunity is the BEST app I’ve used in a minute. This is not an ai review or anything this is genuinely coming from a 7th grade student (I know 2011 im young) but dude this app is a 10/10 i have maintained a 3.8 gpa and have plenty of time for gaming. I love it and my mom is just happy I got good grades
Brad T
Android user
Not only did it help me find the answer but it also showed me alternative ways to solve it. I was horrible in math and science but now I have an a in both subjects. Thanks for the help🤍🤍
David K
iOS user
The app's just great! All I have to do is enter the topic in the search bar and I get the response real fast. I don't have to watch 10 YouTube videos to understand something, so I'm saving my time. Highly recommended!
Sudenaz Ocak
Android user
In school I was really bad at maths but thanks to the app, I am doing better now. I am so grateful that you made the app.
Greenlight Bonnie
Android user
I found this app a couple years ago and it has only gotten better since then. I really love it because it can help with written questions and photo questions. Also, it can find study guides that other people have made as well as flashcard sets and practice tests. The free version is also amazing for students who might not be able to afford it. Would 100% recommend
Aubrey
iOS user
Best app if you're in Highschool or Junior high. I have been using this app for 2 school years and it's the best, it's good if you don't have anyone to help you with school work.😋🩷🎀
Marco B
iOS user
THE QUIZES AND FLASHCARDS ARE SO USEFUL AND I LOVE THE SCHOOLGPT. IT ALSO IS LITREALLY LIKE CHATGPT BUT SMARTER!! HELPED ME WITH MY MASCARA PROBLEMS TOO!! AS WELL AS MY REAL SUBJECTS ! DUHHH 😍😁😲🤑💗✨🎀😮
Elisha
iOS user
This app is phenomenal down to the correct info and the various topics you can study! I greatly recommend it for people who struggle with procrastination and those who need homework help. It has been perfectly accurate for world 1 history as far as I’ve seen! Geometry too!
Paul T
iOS user
The app is very easy to use and well designed. I have found everything I was looking for so far and have been able to learn a lot from the presentations! I will definitely use the app for a class assignment! And of course it also helps a lot as an inspiration.
Stefan S
iOS user
This app is really great. There are so many study notes and help [...]. My problem subject is French, for example, and the app has so many options for help. Thanks to this app, I have improved my French. I would recommend it to anyone.
Samantha Klich
Android user
Wow, I am really amazed. I just tried the app because I've seen it advertised many times and was absolutely stunned. This app is THE HELP you want for school and above all, it offers so many things, such as workouts and fact sheets, which have been VERY helpful to me personally.
Anna
iOS user
I think it’s very much worth it and you’ll end up using it a lot once you get the hang of it and even after looking at others notes you can still ask your Artificial intelligence buddy the question and ask to simplify it if you still don’t get it!!! In the end I think it’s worth it 😊👍 ⚠️Also DID I MENTION ITS FREEE YOU DON’T HAVE TO PAY FOR ANYTHING AND STILL GET YOUR GRADES IN PERFECTLY❗️❗️⚠️
Thomas R
iOS user
Knowunity is the BEST app I’ve used in a minute. This is not an ai review or anything this is genuinely coming from a 7th grade student (I know 2011 im young) but dude this app is a 10/10 i have maintained a 3.8 gpa and have plenty of time for gaming. I love it and my mom is just happy I got good grades
Brad T
Android user
Not only did it help me find the answer but it also showed me alternative ways to solve it. I was horrible in math and science but now I have an a in both subjects. Thanks for the help🤍🤍
David K
iOS user
The app's just great! All I have to do is enter the topic in the search bar and I get the response real fast. I don't have to watch 10 YouTube videos to understand something, so I'm saving my time. Highly recommended!
Sudenaz Ocak
Android user
In school I was really bad at maths but thanks to the app, I am doing better now. I am so grateful that you made the app.
Greenlight Bonnie
Android user
I found this app a couple years ago and it has only gotten better since then. I really love it because it can help with written questions and photo questions. Also, it can find study guides that other people have made as well as flashcard sets and practice tests. The free version is also amazing for students who might not be able to afford it. Would 100% recommend
Aubrey
iOS user
Best app if you're in Highschool or Junior high. I have been using this app for 2 school years and it's the best, it's good if you don't have anyone to help you with school work.😋🩷🎀
Marco B
iOS user
THE QUIZES AND FLASHCARDS ARE SO USEFUL AND I LOVE THE SCHOOLGPT. IT ALSO IS LITREALLY LIKE CHATGPT BUT SMARTER!! HELPED ME WITH MY MASCARA PROBLEMS TOO!! AS WELL AS MY REAL SUBJECTS ! DUHHH 😍😁😲🤑💗✨🎀😮
Elisha
iOS user
This app is phenomenal down to the correct info and the various topics you can study! I greatly recommend it for people who struggle with procrastination and those who need homework help. It has been perfectly accurate for world 1 history as far as I’ve seen! Geometry too!
Paul T
iOS user
My Self Help U
@myself_help_u
The Statement of Financial Position (SFP) might sound super complicated, but it's actually just a fancy name for a balance sheet - one of the most important financial documents you'll encounter in FABM. Think of it as a company's financial... Show more
Access to all documents
Improve your grades
Join milions of students
By signing up you accept Terms of Service and Privacy Policy
Ever wondered how businesses keep track of their money? The Statement of Financial Position is basically like a company's financial ID card. It shows everything Belen Electronic Shop owns and owes as of December 31, 2024.
Here's the magic formula that makes everything work: Assets = Liabilities + Equity. This equation must always balance perfectly - that's why we call it a balance sheet! If your total assets don't equal your total liabilities plus equity, something's definitely wrong with your calculations.
Quick Tip: Always double-check that both sides of your SFP are equal. If they're not, go back and find your mistake before submitting!
The beauty of this document is its simplicity - it gives you a complete picture of a company's financial health in just one page.
Access to all documents
Improve your grades
Join milions of students
By signing up you accept Terms of Service and Privacy Policy
Before diving deep into financial statements, you need to know the 5 major accounts that rule accounting: Assets, Liabilities, Equity, Income, and Expenses. But here's what's cool - only the first three show up in your SFP!
The Statement of Financial Position is essentially a document that records everything a company owns (its resources) while also keeping track of what it owes to others. Think of it as the company's complete financial inventory.
Remember: The SFP only deals with Assets, Liabilities, and Equity - Income and Expenses belong in other financial statements!
Why does this matter? Because the SFP shows your business's financial condition at any given moment, helping you understand exactly where the company stands financially.
Access to all documents
Improve your grades
Join milions of students
By signing up you accept Terms of Service and Privacy Policy
Your SFP isn't just busy work - it's actually super practical! It shows what a business owns versus what it owes to creditors and owners. Plus, it helps assess whether a company can pay its bills through liquidity (paying within a year) and solvency (paying beyond a year).
Assets are basically everything a company owns - think of them as "pagmamay-ari mo." These are resources used to generate revenue and keep the business running.
Assets come in two main flavors: Current Assets (easy to liquidate and used within a year) and Non-current Assets (harder to dispose of and used for more than a year). This distinction helps you understand how quickly a company can turn its stuff into cash.
Key Insight: Current assets are your financial lifeline - they're what keeps your business running day-to-day!
Access to all documents
Improve your grades
Join milions of students
By signing up you accept Terms of Service and Privacy Policy
Current Assets are your business's most flexible resources. Let's break them down: Cash and Cash Equivalents are obvious, while Marketable Securities are investments you can sell quickly.
Trade and other Receivables include money people owe you - like Accounts Receivable, Notes Receivable, Interest Receivable, and Advances to Employees. Don't forget about Inventories (for merchandising businesses only) and Prepaid Expenses (advance payments like rent).
Here's a tricky part: Allowance for Bad Debts gets subtracted from your Accounts Receivable. If there's no amount listed, you don't subtract anything. This account helps you be realistic about money you might never collect.
Pro Tip: Always list Allowance for Bad Debts right after Accounts Receivable, then subtract it to get your net receivable amount!
Access to all documents
Improve your grades
Join milions of students
By signing up you accept Terms of Service and Privacy Policy
Property, Plant, and Equipment (PPE) are tangible assets you can see and touch - like Land, Buildings, Equipment, and Furniture. These must be used in operations, not held for sale. Land never depreciates, but buildings and equipment do!
Accumulated Depreciation gets subtracted from PPE. For example, if a building costs ₱1.5 million and you depreciate it over 12 months, that's ₱125,000 per month in accumulated depreciation.
Intangible Assets are valuable things you can't physically touch - like Franchises, Brand names, Patents, Trademarks, and Copyrights. These assets often represent significant value even though they're not physical.
Remember: PPE items must be "for use only" - if you're planning to sell that building, it doesn't belong in this category!
Access to all documents
Improve your grades
Join milions of students
By signing up you accept Terms of Service and Privacy Policy
Liabilities are simply your business's debts - money you owe to other people, companies, or institutions. Just like assets, they're divided by time: Current Liabilities (paid within 12 months) and Non-Current Liabilities (paid beyond one year).
Current liabilities include Accounts Payable, Notes Payable, Loans Payable, Utilities Payable, Unearned Revenues, and Accrued Liabilities. The key is the maturity date - if there's no specific year mentioned, assume it's current.
Non-current liabilities are the big, long-term debts like Mortgage Payable, Bonds Payable, and Installment Contracts Payable. These are commitments that extend well into the future.
Quick Check: Look for maturity dates! If a loan says "due in 2 years," it's non-current. If it just says "Notes Payable" with no timeline, treat it as current.
Access to all documents
Improve your grades
Join milions of students
By signing up you accept Terms of Service and Privacy Policy
Equity represents the owners' stake in the business after all debts are paid. Think of it as what's left over when you subtract liabilities from assets - it's the residual interest that belongs to the owners.
Equity gets affected by net income or net loss from operations, and also by owner's withdrawals. For partnerships, you'll see capital balances for each partner, while corporations show stocks and retained earnings.
The main subclassifications are Capital and Drawing - but here's the catch: Drawing gets deducted from Capital. So if an owner takes money out of the business, it reduces their equity stake.
Key Point: Drawing reduces the owner's equity - it's not an expense, but it does decrease what the owner has invested in the business!
Our AI companion is specifically built for the needs of students. Based on the millions of content pieces we have on the platform we can provide truly meaningful and relevant answers to students. But its not only about answers, the companion is even more about guiding students through their daily learning challenges, with personalised study plans, quizzes or content pieces in the chat and 100% personalisation based on the students skills and developments.
You can download the app in the Google Play Store and in the Apple App Store.
That's right! Enjoy free access to study content, connect with fellow students, and get instant help – all at your fingertips.
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Transform this note into: ✓ 50+ Practice Questions ✓ Interactive Flashcards ✓ Full Mock Exam ✓ Essay Outlines
App Store
Google Play
The app is very easy to use and well designed. I have found everything I was looking for so far and have been able to learn a lot from the presentations! I will definitely use the app for a class assignment! And of course it also helps a lot as an inspiration.
Stefan S
iOS user
This app is really great. There are so many study notes and help [...]. My problem subject is French, for example, and the app has so many options for help. Thanks to this app, I have improved my French. I would recommend it to anyone.
Samantha Klich
Android user
Wow, I am really amazed. I just tried the app because I've seen it advertised many times and was absolutely stunned. This app is THE HELP you want for school and above all, it offers so many things, such as workouts and fact sheets, which have been VERY helpful to me personally.
Anna
iOS user
I think it’s very much worth it and you’ll end up using it a lot once you get the hang of it and even after looking at others notes you can still ask your Artificial intelligence buddy the question and ask to simplify it if you still don’t get it!!! In the end I think it’s worth it 😊👍 ⚠️Also DID I MENTION ITS FREEE YOU DON’T HAVE TO PAY FOR ANYTHING AND STILL GET YOUR GRADES IN PERFECTLY❗️❗️⚠️
Thomas R
iOS user
Knowunity is the BEST app I’ve used in a minute. This is not an ai review or anything this is genuinely coming from a 7th grade student (I know 2011 im young) but dude this app is a 10/10 i have maintained a 3.8 gpa and have plenty of time for gaming. I love it and my mom is just happy I got good grades
Brad T
Android user
Not only did it help me find the answer but it also showed me alternative ways to solve it. I was horrible in math and science but now I have an a in both subjects. Thanks for the help🤍🤍
David K
iOS user
The app's just great! All I have to do is enter the topic in the search bar and I get the response real fast. I don't have to watch 10 YouTube videos to understand something, so I'm saving my time. Highly recommended!
Sudenaz Ocak
Android user
In school I was really bad at maths but thanks to the app, I am doing better now. I am so grateful that you made the app.
Greenlight Bonnie
Android user
I found this app a couple years ago and it has only gotten better since then. I really love it because it can help with written questions and photo questions. Also, it can find study guides that other people have made as well as flashcard sets and practice tests. The free version is also amazing for students who might not be able to afford it. Would 100% recommend
Aubrey
iOS user
Best app if you're in Highschool or Junior high. I have been using this app for 2 school years and it's the best, it's good if you don't have anyone to help you with school work.😋🩷🎀
Marco B
iOS user
THE QUIZES AND FLASHCARDS ARE SO USEFUL AND I LOVE THE SCHOOLGPT. IT ALSO IS LITREALLY LIKE CHATGPT BUT SMARTER!! HELPED ME WITH MY MASCARA PROBLEMS TOO!! AS WELL AS MY REAL SUBJECTS ! DUHHH 😍😁😲🤑💗✨🎀😮
Elisha
iOS user
This app is phenomenal down to the correct info and the various topics you can study! I greatly recommend it for people who struggle with procrastination and those who need homework help. It has been perfectly accurate for world 1 history as far as I’ve seen! Geometry too!
Paul T
iOS user
The app is very easy to use and well designed. I have found everything I was looking for so far and have been able to learn a lot from the presentations! I will definitely use the app for a class assignment! And of course it also helps a lot as an inspiration.
Stefan S
iOS user
This app is really great. There are so many study notes and help [...]. My problem subject is French, for example, and the app has so many options for help. Thanks to this app, I have improved my French. I would recommend it to anyone.
Samantha Klich
Android user
Wow, I am really amazed. I just tried the app because I've seen it advertised many times and was absolutely stunned. This app is THE HELP you want for school and above all, it offers so many things, such as workouts and fact sheets, which have been VERY helpful to me personally.
Anna
iOS user
I think it’s very much worth it and you’ll end up using it a lot once you get the hang of it and even after looking at others notes you can still ask your Artificial intelligence buddy the question and ask to simplify it if you still don’t get it!!! In the end I think it’s worth it 😊👍 ⚠️Also DID I MENTION ITS FREEE YOU DON’T HAVE TO PAY FOR ANYTHING AND STILL GET YOUR GRADES IN PERFECTLY❗️❗️⚠️
Thomas R
iOS user
Knowunity is the BEST app I’ve used in a minute. This is not an ai review or anything this is genuinely coming from a 7th grade student (I know 2011 im young) but dude this app is a 10/10 i have maintained a 3.8 gpa and have plenty of time for gaming. I love it and my mom is just happy I got good grades
Brad T
Android user
Not only did it help me find the answer but it also showed me alternative ways to solve it. I was horrible in math and science but now I have an a in both subjects. Thanks for the help🤍🤍
David K
iOS user
The app's just great! All I have to do is enter the topic in the search bar and I get the response real fast. I don't have to watch 10 YouTube videos to understand something, so I'm saving my time. Highly recommended!
Sudenaz Ocak
Android user
In school I was really bad at maths but thanks to the app, I am doing better now. I am so grateful that you made the app.
Greenlight Bonnie
Android user
I found this app a couple years ago and it has only gotten better since then. I really love it because it can help with written questions and photo questions. Also, it can find study guides that other people have made as well as flashcard sets and practice tests. The free version is also amazing for students who might not be able to afford it. Would 100% recommend
Aubrey
iOS user
Best app if you're in Highschool or Junior high. I have been using this app for 2 school years and it's the best, it's good if you don't have anyone to help you with school work.😋🩷🎀
Marco B
iOS user
THE QUIZES AND FLASHCARDS ARE SO USEFUL AND I LOVE THE SCHOOLGPT. IT ALSO IS LITREALLY LIKE CHATGPT BUT SMARTER!! HELPED ME WITH MY MASCARA PROBLEMS TOO!! AS WELL AS MY REAL SUBJECTS ! DUHHH 😍😁😲🤑💗✨🎀😮
Elisha
iOS user
This app is phenomenal down to the correct info and the various topics you can study! I greatly recommend it for people who struggle with procrastination and those who need homework help. It has been perfectly accurate for world 1 history as far as I’ve seen! Geometry too!
Paul T
iOS user
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