financial statements associated with good organisational management.

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Issue:

Miscellaneous

 

Written by:

Susan L

 

Date added:

July 9, 2017

 

Level:

University

 

Grade:

A

 

No of pages / words:

3 / 756

 

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1031 times

 

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The balance sheet contains a full list of all assets and liabilities for the organisation. The asset list will contain both fixed and current assets. Fixed assets are tangible items such as buildings and equipment. Fixed assets generally deprecate over time. Current assets (aka liquid assets) are a list of assets that could be converted into cash within 12 months if so required by the organisation...
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Examples would be stocks or prepaid expenses. Similarly the liabilities on a balance sheet are broken up into different categories. Namely, current liabilities, long-term (aka deferred) liabilities and contingent liabilities. Current liabilities are short term debts such as an overdraft. Deferred liabilities are any liabilities payable in more than 12 months...
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