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SOFP vs. SOPL

Forums › ACCA Forums › ACCA BT Business and Technology Forums › SOFP vs. SOPL

  • This topic has 2 replies, 3 voices, and was last updated 8 years ago by sayedrushdi.
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  • February 1, 2017 at 6:19 pm #370632
    janelou
    Member
    • Topics: 15
    • Replies: 10
    • ☆

    Hi, I was looking at two different books with the exact same question, but they both had different answers.

    Is the company liquidity found on the statement of profit and loss or the statement of financial position? I would have thought it was the statement of profit and loss.

    February 6, 2017 at 11:24 pm #371382
    mrjonbain
    Moderator
    • Topics: 6
    • Replies: 2438
    • ☆☆☆☆☆

    In terms of examining the pure liquidity position,I would pay it would be the statement of financial position.From this statement the current ratio (current assets/current liabilities) and the quick ratio(current assets-inventory/current liabilities)can be calculated.

    February 23, 2017 at 7:24 pm #373926
    sayedrushdi
    Member
    • Topics: 0
    • Replies: 2
    • ☆

    I think mrjonbain is right

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