Statement of Financial Position

Question 1

Is “Property, Plant & Equipment”
* **Current / Non Current ** - **Asset / Liability **
* Equity / Capital*

Property, Plant, Equipment

Answer 1

Property, Plant, Equipment = Non-Current Asset

Question 2

Is “Receivables”
* **Current / Non Current ** - **Asset / Liability **
* Equity / Capital*

Property, Plant, Equipment

Answer 2

Receivables = Current Asset

Question 3

Is “Accrued Expenses”
* **Current / Non Current ** - **Asset / Liability **
* Equity / Capital

Property, Plant, Equipment

Answer 3

Accrued Expenses = Current Liability

Question 4

Is “Long-Term Borrowing”
* **Current / Non Current ** - **Asset / Liability **
* Equity / Capital

Answer 4

Long-Term Borrowing = Non-Current Liability

Question 5

Is Payables (Short-Term)
* **Current / Non Current ** - **Asset / Liability **
* Equity / Capital

Answer 5

Payables = Current Liabilities

Question 6

Is Inventory
* **Current / Non Current ** - **Asset / Liability **
* Equity / Capital

Answer 6

Inventory = Current Asset

Question 7

Is Prepayment
* **Current / Non Current ** - **Asset / Liability **
* Equity / Capital

Answer 7

Prepayment = Current Asset

Question 8

Is Accrued Income
* **Current / Non Current ** - **Asset / Liability **
* Equity / Capital

Answer 8

Accrued Income = Current Asset

Question 9

Is Investment
* **Current / Non Current ** - **Asset / Liability **
* Equity / Capital

Answer 9

Investment = Non-Current Asset

Question 10

Is Reserves
* **Current / Non Current ** - **Asset / Liability **
* Equity / Capital

Answer 10

Reserves = Equity (Capital)

Question 11

Is Deferred Income
* **Current / Non Current ** - **Asset / Liability **
* Equity / Capital

Answer 11

Deferred Income = Current Liabilities

Question 12

How to calculate accumulated surpluss ?

Answer 12

• Sum all Assets
• Sum all Liabilities
• Deduct Liabilities + (Equity) Capital from Assets