What is a statement of Affairs

The method of accounting used to record amalgamations in the nature of merger is called

Hello,

1.The Statement of Affair is a summary of a Comapny’s assets and liabilities.

2. It states the net book value and amount expected to realise at the date of Insolvency of the business.

3.Accompanying the balance sheet is a list of creditors and shareholders.

I hope this helps.

Hello Aspirant

• Statement of Affairs (SOA) is a critically important document within the insolvency process that provides an overview of the company’s assets and the liabilities.
• It gives gives the Insolvency Practitioner the opportunity to assess everything the company may own, as well as details of fixed or floating charges.
• Once completed, the Statement of Affairs (SOA) has to be filed at Companies House by an Insolvency Practitioner. It’s intended first and the foremost as a source of information for company creditors and shareholders, although potential buyers of the insolvency company will also find it useful.
• If you have any questions further let me know

Thank you!!!