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\nUnderstanding the Statement of Financial Position\n

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\nIn this lecture, the presenter discusses the statement of financial position, which is a key financial account that all businesses measure and report. The presenter also explains how businesses measure wealth, which is by totaling up the...\nIn this lecture, the presenter discusses the statement of financial position, which is a key financial account that all businesses measure and report. The presenter also explains how businesses measure wealth, which is by totaling up the value of assets minus the debts and payments that need to be made in the future. The video provides a detailed explanation of the different components of the statement of financial position, including assets, liabilities, and equity or company capital. It also discusses the importance of the statement of financial position in providing insights into the vulnerabilities and holes in a business's model. The video concludes by discussing the balancing accounting principle and the limitations of the statement of financial position.\n
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Resource Details

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Curator Rating
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Educator Rating
Not yet Rated
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Media Length
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11:15
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Grade
Higher Ed
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Subjects
Social Studies & History
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Media Type
Instructional Videos
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Source:
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\nKnowMo Business\n\n
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Date
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2018
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Language
English
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Audiences
For Teacher Use
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Usage Permissions
Fine Print: Educational Use
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Concepts

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business, assets, money
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Additional Tags

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a-level, edexcel, only, statement, of, financial, position, current asset, net wealth, accounting principle, trading year, wealth position, company capital, financial position, business owns, current liabilities, current, company, total, amount, individuals, balance, equal, parties, debts, liabilities, recorded, make, made, cash, payments, report
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Classroom Considerations

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Best For: Explaining a topic
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