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balance sheet |
Also found in: Legal, Financial, Acronyms, Wikipedia, Hutchinson | 0.03 sec. |
balance sheetFinancial statement that describes the resources under a company's control on a specified date and indicates where they have come from. It consists of three major sections: assets (valuable rights owned by the company), liabilities (funds provided by outside lenders and other creditors), and the owners' equity. On the balance sheet, total assets must always equal total liabilities plus total owners' equity. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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| We have audited the accompanying consolidated statement of financial position of Music Teachers National Association, Inc. Retrospective application--the application of a different accounting principle to one or more previously issued financial statements, or to the statement of financial position at the beginning of the current period, as if that principle had always been used, or a change to financial statements of prior accounting periods to present the financial statements of a new reporting entity as if it had existed in those prior years. INTERNATIONAL ASSOCIATION OF BUSINESS COMMUNICATORS FINANCIAL STATEMENTS CONSOLIDATED STATEMENT OF FINANCIAL POSITION, 31 DECEMBER 2003 All amounts in US$. |
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