Financial Statements 2

Items of value that do not have a physical presence, such as patents, trademarks and copyrights.

The value of payments to be received from customers who have bought goods on credit.

The value of debts for goods bought on credit payable to suppliers; also known as account payables.

The total value of assets less the total values of liabilities

The value of debts of the business that are payable after more than one year

The total value of capital raised from shareholders by the issue of shares

The value of total assets less the total value of liabilities

The value of share capital plus cumulative retained earnings

The accumulated retained profits and capital reserves from re-valuation of non-current assets

Techniques used by companies to manipulate financial statements and reports to show more favourable results