A statement of ﬁnancial position should be dated for a period (such as "For the year ended December 31, 20X1"), whereas a statement of earnings should be dated at a point in time (such as "At December 31, 20X1").

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A statement of financial position is dated at a specific point in time (e.g., "At December 31, 20X1") because it represents the financial position of a company at that exact date. In contrast, a statement of earnings covers a period of time (e.g., "For the year ended December 31, 20X1") because it shows the company's financial performance over that period.

A Statement of ﬁNancial Position Should Be Dated for a Period