THE BALANCE SHEET 2 PROFESSIONAL ENGLISH IN USE FOR FINANCE

 

PROFESSIONAL ENGLISH IN USE FOR FINANCE 12. THE BALANCE SHEET 2

 

A Fixed and current assets In accounting, assets are generally divided into fixed and current assets. Fixed assets for non current assets and investments, such as buildings and equipment, will continue to be used by the business for a long time. Current assets are things that will probably used B Valuation Manufacturing companies generally have a stock of raw materials, work-in-progress- partially manufactured products – and products ready for sale. There are various ways of C Tangible and intangible assets Assets can also be classified as tangible and intangible. Tangible assets are assets with a physical existence – things you can touch –such as property, plant and equipment. Tangible assets are generally recorded at their historical cost, less accumulated EXERCISES 12.1 Find words and expressions in A, B and C opposite with the following meanings. 1 an amount of money that is owed but probably won’t be paid 2 the accounting value of a company (assets minus liabilities) 3 a legal right to produce and sell a newly invented product for a certain period of time. 12.2 Match the two parts of the sentences. Look at A, B and C opposite to help you. 1 A company’s value on the stock exchange is nearly always 2 Brand names, trade marks, patents, customers, and qualified staff 3 Cash, money owed by customers, and inventory 12.3 See the following into current, fixed and intangible assets. Look at A and C opposite to help you.

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