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statement of condition
Definition
A quantitative summary of a company's financial condition at a specific point in time, including assets, liabilities and net worth. The first part of a balance sheet shows all the productive assets a company owns, and the second part shows all the financing methods (such as liabilities and shareholders' equity). also called balance sheet.
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Nearby Terms
- statement of account
- statement of additional information
- statement of affairs
- Statement of Cash Flows
- Statement of Changes in Net Assets Available for Pension Benefits
- statement of condition
- statement of ERISA rights
- Statement of Financial Accounting Concepts (SFAC)
- Statement of Financial Accounting Standards
- statement of owner's equity
- statement of retain earnings
