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Glossary: Balance Sheet

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A

Accounts Payable: Balance Sheet account. Amount owed by a business to suppliers of goods and services.

Accounts Receivable: Balance Sheet account. Amount owed to a business for goods or services purchased by its customers.

Accrued Expenses: Balance Sheet account. Expenses which have been recorded in the Statement of Net Earnings, but have not been paid by the business.

Accumulated Depreciation: Balance Sheet account. The sum of cumulative Depreciation Expense recorded against the gross amount of Plant, Property and Equipment recorded on the Balance Sheet.

Assets: Balance Sheet account classification. The dollar cost of tangible and intangible, real and other property owned by a business.


B

Balance Sheet: Financial Statement. Statement showing the Assets, Liabilities and Owners' Equity in a business as of a certain date.


C

Cash: Balance Sheet account. The sum of cash and marketable securities (securities convertible into cash in a short period of time) owned by a business.

Common Stock: Balance Sheet account. The amount paid by owners for shares of Common Stock. Common Stock represents the residual equity in the Assets and Net Earnings of a business.

Current Assets: Balance Sheet account classification. Assets that are expected to be converted into cash within one year. For purposes of the analyses contained on this site, Current Assets are: Cash; Accounts Receivable; Inventory; and Other Current Assets.

Current Liabilities: Balance Sheet account classification. Liabilities that are expected to be paid within one year. For purposes of the analyses contained on this site, Current Liabilities are: Line of Credit; Current Maturities; Other Current Obligations; Accounts Payable; Accrued Expenses; Taxes Payable; and Other Current Liabilities.

Current Maturities: Balance Sheet account. The amount of long term debt (Term Loan and Subordinated Debt) that is expected to be paid within one year.