Accumulated depreciation account, 57–58
Annual General Meeting (AGM), 16
Arithmetical amount accuracy, 25
Assets
capital commitments, 66–67
contingent liabilities, 66
current assets (See Current assets)
noncurrent assets (See Noncurrent assets)
Balance sheet
assets (See Assets)
constituents of, 62
debit and credit side, 69
definition, 60
equation, 61
equities and liabilities, 70
equity, 67
format, 61–62
liabilities, 67–68
notes to accounts, 71–74
operating cycle, 68
Capital expenditure
definition, 11
vs. revenue expenditure, 13
Capital receipts, 12
Capital work-in-progress, 63
Cash flow statement
activities, 28–29
definition, 28
direct method (See Direct cash flow method)
indirect method (See Indirect cash flow method)
types of, 29
Get Accounting for People Who Think They Hate Accounting now with the O’Reilly learning platform.
O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.
