|
Cash |
Cash on hand in all checking, savings, and short-term investment accounts when books were closed at the end of the fiscal year |
|
Accounts receivable |
Income derived from all products or services for which you bill. Calculate this number based on what is logged into the books at the close of the fiscal year |
|
Inventory |
Take this from the cost of goods table. It is inventory of material used to manufacture your company's products |
|
Current assets |
Includes cash, accounts receivable, inventory and other assets |
|
Long-term or fixed assets |
Long terms assets are so called because they will last more than one year as opposed to short-term assets that are spent or used up in manufacturing |
|
Capital and plant |
Book value or equipment and property, less depreciation |
|
Investment |
Investments of the company that cannot be converted into cash in less than one year |
|
Long-term assets |
Capital and plant plus investments and any other assets |
|
Total assets |
Sum of total assets and total long-term assets |
|
Liabilities |
Liabilities are also categorized as current or long-term |
|
Accounts payable |
All expenses that are due and payable |
|
Accrued liabilities |
Expenses incurred that have not been paid when books are closed |
|
Taxes |
Due and payable when books are closed |
|
Total current liabilities |
Accounts payable plus accrued liabilities plus taxes |
|
Long-term liabilities |
Liabilities that are not due in the next 12 months
|
|
Bonds payable |
Bonds at end of year that are due over a period exceeding one year |
|
Mortgage payable |
The mortgage amount due when books close |
|
Notes payable |
Amount owed on long-term debt that will not be paid during current fiscal year |
|
Total long-term liabilities |
Bonds payable plus mortgage payable plus notes payable |
|
Total liabilities |
Total current plus long-term liabilities |
|
Owners equity |
Total assets minus total liabilities
|
