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Financial Statements

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Updated 2007-01-30 23:43

Asset Types

Asset ClassType
inventoriestangible
buildingstangible
equipmenttangible
brand namesintangible
patentsintangible
trademarksintangible
licensesintangible
goodwillintangible
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Definitions

TermDefinition
Intangible AssetAn asset that is not physical in nature.
Accrual AccountingAn accounting method that measures the performance and position of a company by recognizing economic events regardless of when cash transactions occur.
Current AssetA balance sheet account that represents the value of all assets that are reasonably expected to be converted into cash within one year in the normal course of business.
Current LiabilityA company's debts or obligations that are due within one year.
RevenueThe amount of money that a company actually receives during a specific period, including discounts and deductions for returned merchandise.
ExpenseThe economic costs that a business incurs through its operations to earn revenue.
DepreciationAn expense recorded to allocate a tangible asset's cost over its useful life.
Components of Shareholder's EquityCommon stock, other classes of stock, additional paid in capital, retained earnings, accumlated other comprehensive income.
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