Assets and liabilities

neganinja's version from 2017-07-24 09:35


Question Answer
Assetsa resource controlled by a business as a result of something that happened in the past from which economic benefits (things which make the company better off financially) are expected to flow in the future. (активы)
Current assetsexpected to be used up, sold or collected in a short period (generally less than 12 months) (краткосрочные активы)
Non-current assetsassets that the business expects to continue using for a number of years in the business
Inventoryitems that are bought for resale. It includes raw materials that we will make into items to sell, work-in-progress and finished goods.
Liabilityan obligation to give an economic benefit to someone as a result of something that happened in the past. It can also be thought of as something that a business owes (обязательства)
Capitalthe amount which the business owes to its owners.