FUNDAMENTALS OF ACCOUNTING

 All possible items classified by CA, NCA, NCL, CL and EQUITY

CURRENT ASSETS
 Cash, including foreign currency
 Investments, except for investments that cannot be easily liquidated
 Prepaid expenses
 Receivable amounts
 Inventory of raw materials, work in process, finished goods, manufacturing
and packaging supplies
 Office supplies
 Advance payments on future purchases

NON CURRENT ASSETS

 Property plant and equipment for e.g land, buildings, machinery, service
equipment, computer and delivery equipment, furniture and fixtures.
 Long term investments
 Investment in associate, investment in subsidiary.
 Patent for inventions, copyright of authorship, composition and other
literary works, trademark and franchise, lease rights and goodwill.
 Advances to officers, directors and employees not collectible within a year.

CURRENT LIABILITIES
 Current liabilities for companies include accounts payable, accured expenses
for wages payable, bank account overdrafts, bank loans or notes, current
maturities of long term debt, customer deposits, dividends payable, income
taxes payable, rental payments.
 Car loans, credit card debt, current monthly bills, rent, utilities, insurance etc
 Home equity loan, home mortages, lines of credit.

NON CURRENT LIABILITIES

 Long term bank loan
 Debenture
 Credit lines
 Notes payable
 Equipment, machines
 Capital lease, securities redeemable in the future, notes payable, mortgage
payable
 Trade and other non-current payables
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