- 1). Begin the preparation of your financial statement by gathering all of your income, asset and expense records, typically for the year end. You will need these documents to properly prepare your financial statement. You may wish to use a spreadsheet such as Excel -- it's convenient because it can automatically calculate figures for you.
- 2). To begin, insert the appropriate heading such as "Personal Financial Statement" at the top of your document. On the line below, insert your name and address. On the following line insert the "as of" date.
A financial statement has three main components: assets, liabilities and net worth. - 3). In the first part of your financial statement, list your assets. This is done on the top of the page. List two columns. On the left list the asset and on the right list the amount of the asset, omitting the cents. A list of assets to include are such items as cash on hand, cash in your checking and/or savings accounts, certificates, securities, stocks and bonds, accounts and notes receivable, cash surrender value of any life insurance policies, retirement plans such as any 401(k)s, real estate you own, the value of any automobiles, boats, recreational vehicles and personal property. Your personal property can include jewelry, furs, collectibles and anything of value.
- 4). Directly below your assets, list liabilities. Again, on the left enter the liabilities and on the right, enter the amount owed. Begin by listing your current debts such as credit cards, accounts payable, notes payable, installment loans, mortgages on any real estate, unpaid taxes, and any other liabilities.
- 5). After completing your liability information, move on to your net worth. This is your assets minus your liabilities. Enter this equation. Next, insert a signature and date line, in which you will sign and date the statement.
- 1). The second part of your financial statement consists of reconciliation. List detailed information about your assets and liabilities.
- 2). First, list detailed information about your assets. Begin by listing your asset and any information such as the name and address of your accounts. For example, if you own a checking account, list the name, address, account number and the value of the account. Next, list the market value of any stocks, bonds, insurance and retirement accounts. Additionally, list real estate you own. For real estate, list each property separately and list the type of the property, address, date you purchased the property, original cost, present market value, name and address of mortgage holder, mortgage account number, mortgage balance and the monthly mortgage payment. Lastl, list any other assets not listed above in detail.
- 3). List your liabilities. Again, list detailed information with names, addresses and account numbers if possible.
- 4). Last, insert another signature and date line, and be sure to sign and date.
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