A personal financial statement is a document of an individual’s record of financial transaction and accounts. It includes the total amount of assets and liabilities of an individual. The financial statement is usually prepared for a specific term, generally one year. It has to be precise and accurate, with all facts and figures carefully entered.
Sample Personal financial Statement:
PERSONAL FINANCIAL STATEMENT
Name of the individual: Mr. Henry Rogers.
Financial statement for the period: January 2010 to January 2011.
Date: 13th of January, 2011.
Assets of the individual:
- Amount in cheque account worth $ 1000000
- Amount in savings account worth $ 1200000
- Medical insurance worth $ 50000
- Personal property (land and building) worth $ 2500000
- National savings certificate worth $ 10000
- Home insurance worth $ 120000
- Retirement funds worth $ 1300000
- Two personal insurances amounting to $ 90000
- Total income in this period is $ 11000000
Based on the above facts and figures, the total assets of the individual amounts to $ 16370000.
Liabilities of the individual:
- Car loan worth $ 75000
- Home loan worth $ 120000
- Amount of taxes to be paid $ 300000
- Education loan of $ 29000 to be paid by the end of this year.
Based on the above facts and figures, the total amount of liabilities of the individual is $ 524000.
The above facts and figures reveal that the net worth of finance of the person is $ 15846000.
(Signature of accountant). (Signature of client)