Classification of Items in Accounting

Fixture and Fittings

• Liability

• Current Asset

• Non Current Asset

• Expenses

Machinery

• Liability

• Current Asset

• Non Current Asset

• Expenses

Bank

• Liability

• Current Asset

• Non Current Asset

• Expenses

7% Loan from Bank Islam

• Current Liability

• Current Asset

• Non Current Liability

• Expenses

Custom Duty / Duty on Purchases

• General Expenses

• Expenses on Purchases

• Non Current Liability

• Revenue

Account Receivable

• Non Current Asset

• Expenses on Purchases

• Current Asset

• Revenue

Carriage outwards

• Non Current Asset

• Expenses on Purchases

• Current Asset

• General Expenses

Carriage inwards

• Non Current Asset

• Expenses on Purchases

• Current Asset

• General Expenses

Interest on loan

• Current Liability

• Expenses on Purchases

• Current Asset

• General Expenses

Land

• Current Liability

• Non Current Asset

• Current Asset

• General Expenses