Thursday, February 13, 2014

Develop A Financial Statement

For real estate, list each property separately and list the type of the property, address, date you purchased the property, original cost, present market value, name and address of mortgage holder, mortgage account number, mortgage balance and the monthly mortgage payment. Lastl, list any other assets not listed above in detail.8. List your liabilities.


Instructions


Preparation & Development


1. Initiate the preparation of your financial statement by company all of your means, asset and expense records, typically for the year butt end. You Testament compulsion these documents to properly prepare your financial statement. You may demand to appropriateness a spreadsheet such as Excel -- it's convenient whereas it can automatically calculate figures for you.


2. To start, encompass the applicable heading such as "Personal Financial Statement" at the top of your list. On the border below, encompass your designation and label. On the next borderline incorporate the "as of" day.


A financial statement has three leading components: assets, liabilities and snare value.


3. In the anterior belongings of your financial statement, folder your assets. This is done on the top of the folio. String two columns. On the left case the asset and on the hold up document the proportions of the asset, omitting the cents. A record of assets to consist of are such items as cash on share, cash in your checking and/or funds accounts, certificates, securities, stocks and bonds, accounts and paper money receivable, cash surrender appraisal of any life insurance policies, retirement plans such as any 401(k)s, real estate you own, the value of any automobiles, boats, recreational vehicles and personal property. Your personal property can include jewelry, furs, collectibles and anything of value.


4. Directly below your assets, list liabilities. Again, on the left enter the liabilities and on the right, enter the amount owed. Begin by listing your current debts such as credit cards, accounts payable, notes payable, installment loans, mortgages on any real estate, unpaid taxes, and any other liabilities.


5. After completing your liability information, move on to your net worth. This is your assets minus your liabilities. Enter this equation. Next, insert a signature and date line, in which you will sign and date the statement.


The Second Part of Your Financial Statement


6. The second part of your financial statement consists of reconciliation. List detailed information about your assets and liabilities.


7. First, list detailed information about your assets. Begin by listing your asset and any information such as the name and address of your accounts. For instance, if you own a current account, list the name, address, account number and the value of the account. Next, list the market value of any stocks, bonds, insurance and retirement accounts. Additionally, list real estate you own.A financial statement is a formal list that provides a detailed explanation of your financial position or status. Financial statements are prepared for individuals further as episode entities. This article is intended for an definite preparing a personal financial statement. Additionally, dodge financial statements differ somewhat and normally comprehend deeper components such as a balance page, money statement and cash flow statement.


Again, list detailed information with names, addresses and account numbers if possible.


9. Last, insert another signature and date line, and be sure to sign and date.