Balance Sheet (Leaving Cert Business): Flashcards
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Practise the cards
10 cards from this deck
Alternative name for balance sheet
Alternative name for balance sheet
Statement of financial position
Two things a balance sheet shows
Two things a balance sheet shows
What the business owns (assets) & how it's financed
Fixed assets time period
Fixed assets time period
Items owned & used for more than one year
Current assets time period
Current assets time period
Items held for less than one year
Current liabilities payment timeframe
Current liabilities payment timeframe
Amounts owed that must be paid within one year
Working capital formula
Working capital formula
Current Assets - Current Liabilities
Total net assets formula
Total net assets formula
Fixed Assets + Working Capital
Capital employed formula
Capital employed formula
Long-term Liabilities + Equity Capital
Issued share capital definition
Issued share capital definition
Total value of shares actually sold to shareholders
Why fixed assets are valuable for loans
Why fixed assets are valuable for loans
They can serve as security or collateral