+ finances. + terminology total assets current asset non-current asset total liability current...
TRANSCRIPT
![Page 1: + Finances. + Terminology Total assets Current asset Non-current asset Total liability Current liability Non-current liability Net worth Equity Debt-to-Equity](https://reader036.vdocuments.site/reader036/viewer/2022062321/56649f305503460f94c4a5eb/html5/thumbnails/1.jpg)
+
Finances
![Page 2: + Finances. + Terminology Total assets Current asset Non-current asset Total liability Current liability Non-current liability Net worth Equity Debt-to-Equity](https://reader036.vdocuments.site/reader036/viewer/2022062321/56649f305503460f94c4a5eb/html5/thumbnails/2.jpg)
+Terminology Total assets
Current asset
Non-current asset
Total liability
Current liability
Non-current liability
Net worth
Equity
Debt-to-Equity Ratio
Value
Inventory
Non depreciable
Depreciable
Create Vocabulary Flip Chart!
![Page 3: + Finances. + Terminology Total assets Current asset Non-current asset Total liability Current liability Non-current liability Net worth Equity Debt-to-Equity](https://reader036.vdocuments.site/reader036/viewer/2022062321/56649f305503460f94c4a5eb/html5/thumbnails/3.jpg)
+Current Assets
Current assets: items that can quickly be converted to cash or that will be sold within 12 months
Examples:
Cash
Checking & savings accounts
Stocks
Bonds & cash value of life insurance
Money others owe you
Current non-depreciable inventory
![Page 4: + Finances. + Terminology Total assets Current asset Non-current asset Total liability Current liability Non-current liability Net worth Equity Debt-to-Equity](https://reader036.vdocuments.site/reader036/viewer/2022062321/56649f305503460f94c4a5eb/html5/thumbnails/4.jpg)
+Non-Current Assets
Non-current assets: items that have a useful life of more than one year and are used in the business
Examples:
Non-current, non-depreciable inventory
Land
![Page 5: + Finances. + Terminology Total assets Current asset Non-current asset Total liability Current liability Non-current liability Net worth Equity Debt-to-Equity](https://reader036.vdocuments.site/reader036/viewer/2022062321/56649f305503460f94c4a5eb/html5/thumbnails/5.jpg)
+Total Assets=
Current assets + non-current assets
![Page 6: + Finances. + Terminology Total assets Current asset Non-current asset Total liability Current liability Non-current liability Net worth Equity Debt-to-Equity](https://reader036.vdocuments.site/reader036/viewer/2022062321/56649f305503460f94c4a5eb/html5/thumbnails/6.jpg)
+Current Liability
Current liability: accounts and notes payable, this year’s part of non-current liabilities
Examples:
Mortgage due this year
Credit card bill
![Page 7: + Finances. + Terminology Total assets Current asset Non-current asset Total liability Current liability Non-current liability Net worth Equity Debt-to-Equity](https://reader036.vdocuments.site/reader036/viewer/2022062321/56649f305503460f94c4a5eb/html5/thumbnails/7.jpg)
+Non-Current Liability
Non-current liability: debts not due this year
Examples:
Mortgage
![Page 8: + Finances. + Terminology Total assets Current asset Non-current asset Total liability Current liability Non-current liability Net worth Equity Debt-to-Equity](https://reader036.vdocuments.site/reader036/viewer/2022062321/56649f305503460f94c4a5eb/html5/thumbnails/8.jpg)
+Total Liabilities=
Current liabilities + non-current liabilities
![Page 9: + Finances. + Terminology Total assets Current asset Non-current asset Total liability Current liability Non-current liability Net worth Equity Debt-to-Equity](https://reader036.vdocuments.site/reader036/viewer/2022062321/56649f305503460f94c4a5eb/html5/thumbnails/9.jpg)
+Net Worth (equity)=
Total assets – total liabilities
![Page 10: + Finances. + Terminology Total assets Current asset Non-current asset Total liability Current liability Non-current liability Net worth Equity Debt-to-Equity](https://reader036.vdocuments.site/reader036/viewer/2022062321/56649f305503460f94c4a5eb/html5/thumbnails/10.jpg)
+Debt-to-Equity
Ratio=total liabilities/
net worth
![Page 11: + Finances. + Terminology Total assets Current asset Non-current asset Total liability Current liability Non-current liability Net worth Equity Debt-to-Equity](https://reader036.vdocuments.site/reader036/viewer/2022062321/56649f305503460f94c4a5eb/html5/thumbnails/11.jpg)
+Value: monetary
worth
![Page 12: + Finances. + Terminology Total assets Current asset Non-current asset Total liability Current liability Non-current liability Net worth Equity Debt-to-Equity](https://reader036.vdocuments.site/reader036/viewer/2022062321/56649f305503460f94c4a5eb/html5/thumbnails/12.jpg)
+Inventory: an itemized list of things owned by a business with the beginning value &
depreciated valueNON
DEPRECIABLE Items that will be used up or
sold within a year
Feed, supplies, etc.
DEPRECIABLE Items that have a useful life
of more than one year and lose value because of age, wear or becoming out of date because of technology advancements