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ASSETS
LIABILITY
OWNER'S EQUITY
EXPENSES
REVENUES
Definition
Current Assets
Current Liability
Current assets are all the assets of a company that are expected to be sold or used as a result of standard business operations over the next year.
Current liabilities are a company's short-term financial obligations that are due within one year or within a normal operating cycle. An operating cycle, also referred to as the cash conversion cycle, is the time it takes a company to purchase inventory and convert it to cash from sales.
Owner equity
It is equal to total assets minus total liabilities
An expense in accounting is the money spent or costs incurred by a business in their effort to generate revenues
Revenue is income generated from normal business operations and includes discounts and deductions for returned merchandise. It is the top line or gross income figure from which cost are subtracted to determine net income
Fixed Assets
Long term liability
Fixed assets, also known as tangible assets or property, plant and equipment, is a term used in accounting for assets and property that cannot easily be converted into cash. This can be compared with current assets such ...
An excellent example of manufacturing in business is . During the earlier part of this century, tobacco was a hand picked and manufactured crop. Thousands of people were employed by and factories were all over the south. The cigarette-making process, once done entirely by hand, either in these factories or by the consumer, is today fully automat...
Economic notes The labor force participation rate is the percentage of working-age persons in an economy who: ' Are employed ' Are unemployed but looking for a job Typically "working-age persons" is defined as people between the ages of 16-64. People in those age groups who are not counted as participating in the labor force are typically studen...
A landscape architect is an individual who arranges and modifies the effects of natural scenery over a tract of land so as to produce the best aesthetic effect for the land's use. Landscape architecture is the design profession which applies artistic, cultural, and scientific knowledge to the design, planning, and development of the land. Landscape...
How poorer countries get into debt. How debt can affect people and the environment Central America used to have about 500,000 km[2] of rainforest. By the late 1980s, more than 80 % of it had gone. Every year, more than 800 km[2] of rainforest are cut down in Honduras - to be replaced by ranches, banana plantations and small farms. The connecti...
The United States economy is very difficult to understand. It is so difficult because we cannot predict what will happen in the next century, the next decade, or even what will happen tomorrow. Our economy hasn't been through a depression, since the Great Depression in the 1930's. We have been anticipating another depression for quite a while,...
