Also referred to as real accounts. Accounts that do not close at the end of the accounting year. Consist of all of the balance sheet accounts (asset accounts, liability accounts, owner's equity accounts) except for the owner's drawing account. What is the statement of financial position? | AccountingCoach The statement of financial position is another name for the balance sheet. It is one of the main financial statements and it reports an entity's assets, liabilities, and the difference in their… Accounting Coach - Understanding Financial Statements What students are saying As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.