Finance - Balance Sheet + Depreciation Flashcards
1
Q
What is a balance sheet?
A
a statement of a business’s assets and liabilities at a certain time
2
Q
Formula for working capital?
A
current assets - current liabilities
3
Q
Formula for net assets?
A
total assets - total liabilities
4
Q
Formula for capital employed?
A
total assets - current liabilities
5
Q
Formula for equity?
A
share capital + reserves
6
Q
What is Depreciation?
A
the decline in the value of a fixed asset over a given period of time
7
Q
Depreciation formula?
A
Useful Life (years)
