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Balance sheets
- Fixed assets
- are things that the business owns for over the course of a year or more
- E.g. cash
- land
- land
- are things that the business owns for over the course of a year or more
- current assets
- business owns for less than a year
- E.g. material
- insurance
- insurance
- E.g. material
- business owns for less than a year
- current liabilities
- working capital
- working capital pays
the day to day
running expenses
- current assets - current liabilities
- Cash
- working capital pays
the day to day
running expenses
- net assets
- fixed assets + working capital
- this shows a business the value of all the assets it owns.
- should be the same number as capital.
- fixed assets + working capital
- long term liabilities
- an amount the business pays over a year or more.
- loans
- Mortgage
- an amount the business pays over a year or more.
- capital
- these are the assewts
the business that can
easily turn into cash (it
can also include cash in
the bank)
- stock
- any money own
- should be the same number as net assets
- these are the assewts
the business that can
easily turn into cash (it
can also include cash in
the bank)
- current liabilities
- what the business
owes in a short
amount of time . less
than a year.
- loans
- debt
- what the business
owes in a short
amount of time . less
than a year.
- Debtors - people that owes money to the business
- creditors- people the business owe money to.
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