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The Balance Sheet.
Member rating: No Rating | Words: | Submitted: Mon Jun 19 2006
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The Balance Sheet On the international level, the form of a balance sheet is not strictly prescribed by the legislation. The economic entities can design the exact form of their own balance sheet. The only thing prescribed by legislation is to obey the basic accounting principles. However, typical items can be found: ASSETS I. Current Assets I.1. Cash Any medium of exchange that a bank will accept at face value: cash, bank deposits, currency, checks. Check: a written instrument signed by the depositor (drawer), ordering the bank (drawee) to pay a certain sum of money to the order of a designated person (payee). "Checks" presented in the balance sheet refer to demands on money (the examined entity is the payee) Cash is presented at FACE VALUE. I.2. Marketable securities (temporary investments) When a company has excess cash that is not needed immediately, it may put it into income-yielding investments, which can be quickly and easily converted into cash. Temporary investments in...
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