Statement of Financial Position Equations Flashcards
1
Q
Total assets=
A
Non-CurrentAssets + CurrentAssets
2
Q
(Non current assets) NetBookValue=
A
CostofAsset − AccumulatedDepreciation
3
Q
Current assets=
A
Inventory + TradeReceivables + Cash+ Prepayments
4
Q
TotalLiabilities=
A
Non-CurrentLiabilities + CurrentLiabilities
5
Q
CurrentLiabilities=
A
TradePayables + BankOverdraft + Accruals
6
Q
NetAssets=
A
TotalAssets − TotalLiabilities
7
Q
CapitalEmployed=
A
OpeningCapital + ProfitfortheYear − Drawings
8
Q
Equity=
A
CapitalIntroduced + RetainedEarnings + Reserves
