non-current assets Archives - Study Zone Institute

Balance Sheet: 10 key parts of the statement of financial position

Study Zone Institute May 9, 2023 Business and Accounting Basics Comments Off on Balance Sheet: 10 key parts of the statement of financial position

The Balance Sheet is the next step in the Accounting Cycle after the Income Statement is completed. It is one of 3 financial statements that is prepared by an accountant. The other 2 are Income Statement and Cash Flow Statement. It reports the assets, liabilities, and capital of a business. The …

Assets: Owned fixed and liquid items with a debit balance

Study Zone Institute May 9, 2023 Business and Accounting Basics Comments Off on Assets: Owned fixed and liquid items with a debit balance

Assets: Owned items with a debit balance

Assets are the items owned by a business. They are non-current also known as fixed or they are current also known as liquid. Non-current or fixed assets are those tangible or non-tangible items that have long life in the business. They are classed as permanent when compared to the current …

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Balance Sheet: 10 key parts of the statement of financial position

Assets: Owned fixed and liquid items with a debit balance