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Home > QFINANCE Dictionary > Definition of statement of affairs

Definition of

statement of affairs

Accounting

list of assets and liabilities showing financial condition a statement in a prescribed form, usually prepared by a receiver, showing the estimated financial position of a debtor or a company that may be unable to meet its debts. It contains a summary of the debtor's assets and liabilities, with the assets shown at their estimated realizable values. The various classes of creditors, such as preferential, secured, partly secured, and unsecured, are shown separately.

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Definitions of ’statement of affairs’ and meaning of ’statement of affairs’ are from the book publication, QFINANCE – The Ultimate Resource, © 2009 Bloomsbury Information Ltd. Find definitions for ’statement of affairs’ and other financial terms with our online QFINANCE Financial Dictionary.

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