Balancing a PSAB Statement of Financial Position is different from balancing a typical Financial Statement Balance Sheet. The typical Balance sheet is Assets = (Liabilities + Equity). The PSAB Statement of Financial Position is Financial Assets - Liabilities + Non-Financial Assets = Accumulated Surplus.

 

Total Assets is calculated by combining all Financial Assets and Non-Financial Assets.

Total Liabilities is calculated by combining Liabilities and Equity (represented by the Accumulated Surplus)

 

For diagnostic purposes the Jazzit PSAB statement does not directly sum the assets and liabilities into the Accumulated Surplus. In the example below the Accumulated Surplus should be $6,454,011 in the current year and $5,153,154 in the prior year. The Accumulated Surplus actually listed is sourced from the Statement of Changes in Accumulated Surplus. The numbers transferred are $6,454,013 and $5,153,151. The difference between the transferred and actual numbers is -2 and 3 respectively, which is reflected in the rounding difference.