statement of financial position Flashcards
1
Q
net current assets
A
current assets - current liabilities
2
Q
net assets
A
non current assets + net current assets - non current liabilities
3
Q
capital employed
A
opening capital = profit for the year - drawings
4
Q
net book value
A
cost - depreciation
5
Q
straight line depreciation
A
historic cost - residual value / expected life
6
Q
reducing line depreciation
A
net book value x % set depreciation
