In particular we focus on getting the loan structure right the first time, choosing which lenders to use in the right order (yes this is important) and finally getting our clients the best deal possible.
A financial position, often referred to as a financial statement or financial snapshot, provides an overview of an individual’s or an entity’s financial health at a specific point in time. It summarizes the assets, liabilities and the equity and the entity and helps stakeholders understand the financial wellbeing of the entity. Here is what is typically included in a financial position:
Assets: are what an entity owns or controls and are typically divided into two categories:
Current assets: are expected to be converted into cash or used up withing one year or one operating cycle, whichever is longer. Examples include cash, accounts receivable, inventory and short-term investments.
Non-current assets are not expected to be turned into cash within one year. Examples include real estate, long-term investments, machinery and intangible assets like patents and trademarks.
Liabilities: represent an entity obligation or debts to others. They are also divided into two categories:
Current liabilities: are due within one year or one operating cycle, whichever is longer. Examples include accounts payable, short-term loan and accrued expenses.
Non-current liabilities: these obligations are not due within one year. Examples are long-term loans, bonds payable and deferred tax liabilities.
Equity: represents the residual interest in the assets of the entity after deducting its liabilities. Equity is the ownership stake in the entity.
