Net worth statements examine a person or company's total value: the leftover assets they have after paying all liabilities. Individuals often calculate their own net worth to see if they are reaching their financial goals and determine if they can afford to make new investments. If you get a divorce, you may have to provide a net worth statement to the court as well so that it can determine alimony or child support.
1. Obtain a net worth form from your financial adviser, or use a blank piece of paper.
2. List all of your bank accounts. List whether the account is owned solely or jointly and how much is in the account.
3. List all of your investments, such as stocks and bonds. List how many units of stock you have. List the current value of each investment. Use the investment's fair market value if you are unsure of its worth.
4. List non-cash property and its fair market value, such as your car and house.
5. List any money that you expect within the reporting period, such as weekly wages or accounts receivable.
6. Add all of your assets together to determine your total assets.
7. List all of your liabilities. List fixed expenses such as rent, payment to employees and utility payments. List accounts payable and loans that are expected to come due within the reporting period.
8. Add your liabilities together to determine your total liabilities.
9. Subtract your liabilities from your assets to determine your net worth.
Items you will need
- Photodisc/Photodisc/Getty Images