Elements of Financial Statements

Please classify this account as "CASH IN HAND".

• ASSET- CURRENT ASSET

• ASSET-NON CURRENT ASSET

• LIABILITIES- CURRENT LIABILITIES

• LIABILITIES- NON CURRENT LIABILITIES

Classify whether this account is a(n) asset (economic resource of the entity); or liability (obligations of the business entity to another, settlement would require outflow of economic resource); or equity/capital (if the account is neither asset nor liability). Also, determine if it is current (when it is expected to be used, sold, or realized within a period of one (1) year from date of reporting) or noncurrent (if the asset/liability is not current):

CASH IN BANK

• ASSET- NON CURRENT ASSET

• ASSET-CURRENT ASSET

• LIABILITY- NON CURRENT LIABILITY

• LIABILITY- CURRENT LIABILITY

Please classify this account as LAND AND BUILDING

• ASSET-NON CURRENT ASSET

• ASSET-CURRENT ASSET

• LIABILITY- NON CURRENT LIABILITY

• LIABILITY-CURRENT LIABILITY

Please classify this account as FURNITURE AND FITTINGS

• ASSET- NON CURRENT ASSET

• ASSET-CURRENT ASSET

• LIABILITY- NON CURRENT LIABILITY

• LIABILITY-CURRENT LIABILITY

Please classify this account as: MOTOR VEHICLE

• ASSET -CURRENT ASSET

• ASSET-NON CURRENT ASSET

• LIABILITY- NON CURRENT LIABILITY

• LIABILITY- CURRENT LIABILITY

Please classify this account as PATENT/ BRAND/FRANCHISE

• LIABILITY- NON CURRENT LIABILITY

• CURRENT ASSET- INTANGIBLE ASSET

• ASSET- NON CURRENT ASSET- Tangible

• ASSET- NON CURRENT ASSET - INTANGIBLE

Please classify this account as ACCOUNT RECEIVABLE / DEBTOR

• LIABILITY- NON CURRENT LIABILITY

• ASSET- NON CURRENT ASSET

• ASSET-CURRENT ASSET

• OWNERS EQUITY

Please classify this account as ACCOUNT PAYABLE / CREDITOR

• LIABILITY- NON CURRENT LIABILITY

• LIABILITY- CURRENT LIABILITY

• ASSET- CURRENT ASSET

• ASSET- NON CURRENT ASSET

Classify whether this account is a(n) asset (economic resource of the entity); or liability (obligations of the business entity to another, settlement would require outflow of economic resource); or equity/capital (if the account is neither asset nor liability). Also, determine if it is current (when it is expected to be used, sold, or realized within a period of one (1) year from date of reporting) or noncurrent (if the asset/liability is not current):

LONG TERM LIABILITY

• OWNER'S EQUITY- CAPITAL

• ASSET- CURRENT ASSET

• LIABILITY- NON CURRENT LIABILITY

• LIABILITY- CURRENT LIABILITY

Please classify this account as FIXED INVESTMENT / FIXED DEPOSIT

• OWNER'S EQUITY

• ASSET- CURRENT ASSET

• LIABILITY- NON CURRENT LIABILITY

• ASSET- NON CURRENT ASSET