Personal Financial Statement Examples. An asset is something that puts money into your pocket periodically and your home, according to this definition is not your asset because your home takes money out of your pocket through bills, taxes, renovation etc.
However, for the sake of your information, current assets are those that are liquid and can be converted to cash in a short period of time, while non-current assets are illiquid assets that do not have a vibrant and robust secondary market and therefore needs a large amount of time weeks or sometimes even months to be sold.
It is done by first calculating your total assets and total liabilities and then subtracting your liabilities from your assets, in other words, you have to subtract the amount that you owe from the amount that you own.
This distinction is not very important for you as a person. Also, other assets that are liquid and can be converted to cash readily can also be listed in the asset column of your asset. These numbers listed in your personal financial statement are used to calculate your net worth.
Loan taken out from a bank, taxes due, mortgage payments due and any other debts will be listed in the liability column of your personal financial statement.
If we ask you what your most valuable asset is, what would you say? The figure calculated by this formula will give you your net worth. Expenses Assets Every good personal financial statement will first list down all the assets that an individual possesses.
If you are living in a rented house then the monthly rent payments that you make is your liability that you have to pay, come what may. A real estate is a perfect example of non-current asset.
In some personal financial statement templates you will see that there is a distinction between current and non-current assets. Liabilities A liability is the amount of money that you have to pay i. A current liability is the one that you have to settle within the time period of one year short term while non-current liabilities are ones that are due after one year long term.
Well most household in US believe that their home is their most valuable asset that they have purchased. Items included in the asset column of your personal financial statement include cash that you have in the locker of your house and your bank balance.
Just as in the case of assets, liabilities too are divided into current and non-current liabilities.
Also, the cash value of your investments in stocks, bonds or any other investment vehicle will also be recorded in the asset column of your personal financial statement. If you own a property for investment purposes like for renting it out then you can also record the cash flow generated from such investments in the asset column of your personal financial statement.
In this section you will list down all the sources to whom you owe money and also the amount that you owe.Download a free Net Worth Statement to determine your net worth, which is the difference between your assets and liabilities. Net Worth Statement for Excel® + & Google Docs.
Screenshots. 1. 2. Like This Template? Excel (XP) How to Prepare your Net Worth Statement. Personal financial statement provides a realistic listing of the.
Use our personal financial statement templates and samples to better manage your money! Download personal financial statement examples in Excel, PDF, Word all this will start with correctly filling out a personal financial statement form. We have a template of personal financial statements in excel as well as PDF format.
Use these 5 plus examples of personal financial statement form to get a good start. Personal Financial Statement Form for Excel®, Download.
Personal Financial Statement Blank Form, Download. Personal Financial Statement Example, Download. Personal Financial Statement Form PDF, Download. PFS for CONFIDENTIAL Page 1 of 3 PERSONAL FINANCIAL STATEMENT Bank: You may apply for an extension of credit individually or jointly with another applicant.
PERSONAL FINANCIAL STATEMENT Section I Other Income of Other Person - Itemize Total Income Taxes I/We furnish the foregoing as a true and accurate statement of my/our financial condition.
Blank Personal Financial mi-centre.com Author. Your personal financial statement should show only your personally held assets and liabilities (debts) outside the business. Do not include any business assets or liabilities.
Page 2 of the spreadsheet allows you to give the .Download