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Unit 22 Balance sheets
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What is another name for "net current assets"
Working capital
Balance sheet / statement of financial position
record of all assets and liabilities at a particular date
Shareholder’s equity
money owed by the business to its shareholders
Owner’s equity
money owed by the business to its owners (including capital and retained profits)
Current liabilities
short term debts (trade payables, bank overdraft...)
Non-current liabilities
long term debts (bank loan, debenture, mortgage...)
Trade payables
money owed by the business to its suppliers for products bought on credit
Trade receivables
money owed to the business by customers who bought products on credit
Non-current assets
long term resources owned by a business
Current assets
short term resources owned by a business