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ACCOUNTS

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Three types of account
Katie Shellard
Mind Map by Katie Shellard, updated more than 1 year ago
Katie Shellard
Created by Katie Shellard about 6 years ago
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Resource summary

ACCOUNTS
  1. PROFIT & LOSS
    1. Trading performance over time
      1. Income
        1. Expenditure
          1. Operating profit before tax and interest
            1. Accruals - whether paid or not
              1. Includes depreciation
                1. NO capital expenditure
                2. BALANCE SHEET
                  1. SNAPSHOT!
                    1. Fixed assets
                      1. Long term TANGIBLE
                        1. INTANGIBLE eg goodwill
                          1. SHORT TERM eg cash, debtors
                          2. Liabilities
                            1. Long-term - put 1 yr +
                              1. Short-term eg utilities
                              2. Net assets = capital employed
                              3. CASH FLOW STATEMENT
                                1. Non cash items excluded
                                  1. Differs from P&L- put made or rec'd
                                    1. Inc fixed asset purchase
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