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STATEMENT OF FINANCIAL CONDITION OF. NAME: DATE: I. Statement of Assets and Liabilities. It reports on an organization's assets (what is owned) and liabilities (what is owed).The statement of financial position is another term for the balance sheet. Thus, the assets are always listed first. The three main types of financial statements are the balance sheet, the income statement, and the cash flow statement. A statement of financial position is another name for the balance sheet. This brochure will help you gain a basic understanding of how to read financial statements. The Financial Statement Data Sets below provide numeric information from the face financials of all financial statements. Items 13 - 19 — Every line of the financial statement must be completed and should reflect accurate information and amounts. What is the statement of financial position, and how can I use it to learn more about the financial situation of a company?