In appearance the statement of affairs is similar to a balance sheet. Income from employment or operation of business state the gross amount of income the debtor has received from employment, trade, or profession, or. May 11, 2017 for this purpose, statement of affairs is prepared at the beginning and at the ends of the period, so as to determine the overall change in the capital, during the financial year. Statement of financial affairs for united states bankruptcy court mlc of harlem, inc. Statement of financial affairs for united states bankruptcy court motors liquidation company fka general motors corporation chapter 11 case no. The balance sheet also known as a statement of financial. List all other property, other than property transferred in the ordinary course of the business or financial affairs of the debtor, transferred wither absolutely or as a security within one year. Balance owing balance owing liabilities make present value. For financial reporting purposes, the university is considered a specialpurpose government engaged in businesstype activities. The relation between earnings management and fraud when. It provides a summary of the debtors financial history, transactions and. Personal financial information is disclosed by candidates at the start of the campaign and annually by elected officials, state boards and commissions members, state agency directors, and legislative and gubernatorial professional staff.
Form 11102 032005 this application is the property of rbc royal bank of canada. Statement of financial affairs 20 information for unison members to members of unison as required by the trade union and labour relations consolidation act 1992 and the trade. Official bankruptcy forms are approved by the judicial conference and must be used under bankruptcy rule 9009. Prepare the statement of financial affairs caldwell law. The financial statements have been prepared from reclamations books and records. Statement of financial affairs university general hospital, lp 1531097 4. Statement of your financial affairs nonindividuals. May 30, 2019 an additional form, the statement of financial affairs, or sofa, asks questions about the state of your finances, recent financial transactions, and items that cant go on other schedules. Statement of financial affairs for individuals filing for bankruptcy page 2.
This document covers details from income to any business in which. Spouses filing a joint petition may file a single statement on which the information for both. Suits and administrative proceedings, executions, garnishments and attachments none a. Financial institution address payment frequency model total assets. List all gifts, as well as all losses related to theft, gambling and fire from within the last year.
Statement of financial affairs 2014 information for unison members to members of unison as required by the trade union and labour relations consolidation act 1992 and the trade. Because the data sets are derived from information provided by individual registrants, we cannot guarantee the accuracy of the data sets. Are you keeping or holding someone elses property or assets. Financial statements are the reports that provide the detail of the entitys financial information including assets, liabilities, equities, incomes and expenses, shareholders. Within 2 months after receipt of the statement of affairs, the receiver shall send to the registrar of companies the registrar the following. Student financial services forms carnegie mellon university. It reports on an organizations assets what is owned and liabilities what is owed. The statement of financial affairs stands as one of many documents required in chapter 7 and chapter bankruptcies.
Did you have any income from employment or from operating a business during this. Statement of financial affairs for nonindividuals filing for bankruptcy 0416 fill in this information to identify the case. B 107 for individual debtor cases, and b 207 for nonindividual debtor cases. If the case is filed under chapter 12 or chapter, a married debtor. Legal definition of statement of financial affairs. List all other property, other than property transferred in the ordinary course of the business or financial affairs of the debtor, transferred wither absolutely or as a security within one year immediately preceding the commencement of this case. This article will provide information on completing the statement of financial affairs, often abbreviated sofa. The financial statement data sets contain information derived from structured data filed with the commission by individual registrants as well as commissiongenerated filing. Notes of the financial statements credit risk the ageing of trade receivables as at the end of the reporting period was. On the top of any additional pages, write your name and case. Yes no this includes bank accounts, credit union, stock, brokerage, retirement, and pension accounts. Section 5 financial statements 1 our business o ur p er f or ma n c e o ur s o c i al i mpa ct g o v er nan c e fin a n c i al s ta t e m en t s. Section 5 financial statements 1 financial statements. This form should be used for making such a statement.
Preparation of the statement of affairs with specimen. At any time before the case is closed, a statement of financial affairs may be amended by the debtor as a matter of course. List all suits and administrative proceedings to which the debtor is or was a party within one year immediately preceding the filing of this bankruptcy case. Financial statements and notes bureau of reclamation. If one or more of your creditors has taken you to court and you have been adjudicated a bankrupt, you must fill in a statement of affairs. Although the words financial statements and accounting send cold shivers down many peoples backs, this is the language of business, a language investors need to know before buying stocks. Statement of financial affairs for individuals filing for bankruptcy 0419 be as complete and accurate as possible. If a company is healthy and reporting increasing quarterly profits, one would hope that all should be well, but it is known that gross income does not begin to convey the health of a profitable companyor an unprofitable one. Financial aid forms office of student financial services knox. Statement of your financial affairs nonindividuals united states. Statement of financial affairs this statement is to be completed by every debtor. A statement of financial affairs is filed by the debtor or debtors counsel with the petition or within 14 days. It provides a summary of the debtors financial history, transactions and operations prior to the commencement of the case. The excess of the assets over the liabilities as shown by the statement will represent the capital of the firm.
Credit cardslines of credittaxes address payment frequency. Overview of the bankruptcy statement of financial affairs. Spouses filing a joint petition may file a single statement on which the inf ormation for both. You may electronically submit eforms electronic form or by downloading. Motors liquidation company 0950026 reg southern district of new york fka general motors corporation, et al. Official form 107 statement of financial affairs for individuals filing for bankruptcy page1 official form 107 statement of financial affairs for individuals filing for bankruptcy 1215 be as complete and accurate as possible. Statement of financial affairs form 7 us legal forms. Student financial services forms great basin college. The balance sheet also called the statement of financial position serves as a snapshot, providing the most comprehensive picture of an organizations financial situation.
New eforms for 201920 for submitting financial aid forms. Statement of financial affairs 20 information for unison members to members of unison as required by the trade union and labour relations consolidation act 1992 and the trade union reform and employment rights act 1993. Credit cardslines of credittaxes address payment frequency rate credit limit mortgages. Effective december 1, 2015, this form is replaced by. To understand the documents, it is therefore important that you familiarize. Debtor name united states bankruptcy court for the. Statement of affairs form 2 free templates in pdf, word. Allows the public to assess whether state officials may. Spouses filing a joint petition may file a single statement on which the inf ormation for both spouses is combined. The documents on this website contain forwardlooking statements and nongaap financial measures. If two married people are filing together, both are equally responsible for supplying correct information. Statement of affairs definition, explanation, format. The statement of financial affairs gets the acronym sofa because it is the largest portion of the chapter 7 bankruptcy petition.
In general, there are five types of financial statements that prepare by an entity quarterly, annually or the period required by management. If the case is filed under chapter 12 or chapter, a married debtor must furnish information for bo th spouses whether. Difference between statement of affairs and balance sheet. Statement of financial affairs for nonindividuals filing. This guide is intended to help you to fill in the form properly.
Married debtors filing under chapter 12 or chapter must state income of both spouses whether. Spouses filing a joint petition may file a single statement on which the information for both spouses is combined. The schedules and statements have been signed by christopher kohler, the debtors chief financial officer and an authorized signatory for each of the debtors in respect of the schedules and statements. Gross revenue from business none check if this is an. This document covers details from income to any business in which the filer has had an interest in the last six years. Have you closed any financial accounts in the last year. Statement of financial affairs for individuals filing for bankruptcy.
Statement of financial affairs united states courts. To understand the documents, it is therefore important that you familiarize yourself with what these terms mean, the conditions of their use, and the risks they are subject to. Some of the categories which must be completed by each debtor are. Youll fill out the sofa if you file a chapter 7, chapter 11, or a chapter case. If you wish to type your information into any of the pdf fillable forms below, you must first save the. Your statement of financial affairs for individuals filing. Statement of financial affairs legal definition merriam. Despite its length, many portions of the sofa do not pertain to most ordinary debtors. If more space is needed, attach a separate sheet to this form.
Accordingly, the financial statements are presented using. Statement of financial affairs in the first two questions of the statements, a debtor is asked to report its income. Case number if known garden oaks maintenance organization, inc. We focus, where possible, on research providing direct evidence of what capital providers do. Statement of financial affairs law offices of andrew myers.
The financial statements have been prepared from reclamations books and records in accordance with the office of management and budgets omb circular a6, financial reporting requirements, dated june 3, 2008. Official form 107 statement of financial affairs for individuals filing for bankruptcy page1 official form 107 statement of financial affairs for individuals filing for bankruptcy 1215 be. For this purpose, two comparative statement of affairs are prepared one at the commencement of the year and other at the end of the year. Those five types of financial statements including income statement, statement of financial position, statement of change in equity, statement of cash flow and the noted disclosure to financial statements. List all legal cases you have been involved with within the last year, as well as foreclosures, garnishment of wages and similar financial procedures. Accordingly, the financial statements are presented using the economic resources measurement focus and the accrual basis of accounting. Interior by the chief financial officers act of 1990 and the government management reform act of 1994. Income from employment or operation of business state the gross amount of income the debtor has received from employment, trade, or profession, or from operation of the debtors business, including parttime activities either as an employee or in independent trade or business, from the beginning. R20223 6 louisiana department of revenue statement. Before moving to that, i will again state that it is not advisable to even. Statement of affairs is often confused with balance sheet, as it also lists out assets and liabilities of the company. Read this article to learn about the preparation of statement of affair in case of voluntary windingup of a company.
Statement of personal financial affairs vehicles, rvs, boats. Youll tell the court about your prior financial situation and transactions on the statement of financial affairs for individuals filing for bankruptcy form. The relation between earnings management and financial. Spouse and dependent information are required even though only one person is liable for the tax. Liabilities and statements of financial affairs the global notes are an integral part of all of the debtors schedules and statements defined below. Statement of affairs information sheet courts service. A statement filed before the case is converted to chapter 7 will be treated as filed in the chapter 7 case, unless the court directs otherwise. Financial aid application for students ineligible for federal financial aid. Statement of financial affairs for nonindividuals filing for.
Forms and publications office of student financial services. Consortium agreement application pdf if you are planning to take classes at another institution during your enrollment at drexel university and would like to. For this purpose, statement of affairs is prepared at the beginning and at the ends of the period, so as to determine the overall change in the capital, during the financial year. An additional form, the statement of financial affairs, or sofa, asks questions about the state of your finances, recent financial transactions, and items that cant go on other. The financial statement data sets contain information derived from structured data filed with the commission by individual registrants as well as commissiongenerated filing identifiers. If a company is healthy and reporting increasing quarterly profits, one would.