1a. Balance Sheet Account Types by Category

Winston Maxwell
Mind Map by Winston Maxwell, updated more than 1 year ago
Winston Maxwell
Created by Winston Maxwell about 5 years ago


CPA Accounting (Framework: 5. General-Purpose Financial Statements) Mind Map on 1a. Balance Sheet Account Types by Category, created by Winston Maxwell on 10/12/2016.

Resource summary

1a. Balance Sheet Account Types by Category
  1. Current Assets
    1. Cash


      • No change in "Cash" value when stated as Nominal, Market, Realizable, Present, Future Values.  All the same when it comes to cash
      1. Cash Equivalents
        1. Short-term investments
          1. Account Receivable
            1. Other Receivables
              1. Inventories
                1. Prepaids
                2. Non-Current Assets
                  1. Long-term investments
                    1. Property
                      1. Plant & Equipment
                        1. Intangibles
                          1. "Other" Assets including Long-Term Prepaids
                            1. Goodwill is by far the largest intangible in terms of dollar amount for many firms and equals the excess of the purchase price paid for another business over the market value of its net assets. Only when a firm is purchased by another is goodwill recognized in the balance sheet of the purchaser. Internally, generated goodwill is expensed.
                            2. Current Liabilities
                              1. Accounts Payable
                                1. Accrued Liabilities
                                  1. Unearned Revenue
                                    1. Income Tax Payable
                                      1. Notes Payabel
                                        1. current portion of long-term debt (the portion due within one year of the balance sheet date).
                                        2. Non-Current Liabilities
                                          1. Notes Payable
                                            1. Bonds Payable
                                              1. Lease Liabilities
                                                1. Pension Liabilities
                                                  1. Post-Retirement Healthcare Liabilities
                                                    1. Deferred Taxes
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