The Balance Sheet Flashcards
What are the components of a balance sheet?
Non-current assets, current assets, total assets, current liabilities, non-current liabilities, total liabilities, net assets, equity and total equity
What is in the non-current assets section?
PAN = property, plant and equipment, accumulated depreciation, and non-current assets
What is in the current assets section?
CDSC = cash, debts, stock, and current assets
Total assets =
Non-current assets + current assets
What is in the current liabilities section?
BTSC = bank overdraft, trade creditors, short-term loans, and current liabilities
What is in the current liabilities section?
BTSC = bank overdraft, trade creditors, short-term loans, and current liabilities
What is in the non-current liabilities section?
BN = borrowings - long term, and non-current liabilities
Total liabilities =
Current liabilities + non-current abilities
Net assets =
Total assets - total liabilities
What is in the equity section?
SR = share capital and retained earnings
Total equity =
Share capital + retained earnings
What are examples of tangible assets?
Buildings, equipment, machinery and vehicles
What are examples of intangible assets?
Patents, goodwill, copyright laws and trademarks
