Assets - Items the business owns., Liabilities - Money the business owes., Non-Current Assets - Long-term items the business owns, like buildings, vehicles, and equipment lasting more than one year., Current Assets - Short-term items the business owns, like stock, cash, and money owed by customers, usually converted into cash within a year., Current Liabilities - Short-term debts the business must pay within one year, such as overdrafts or money owed to suppliers., Working Capital - Money available to pay short-term expenses, calculated as Current Assets minus Current Liabilities (Current Assets – Current Liabilities)., Net Assets - The total value of a business calculated by adding Non-Current Assets and Working Capital (Non-Current Assets + Working Capital)., Capital Employed - Total amount of money invested in the business by owners and long-term loans, calculated as Owner’s Capital plus Long-Term Liabilities (Owner’s Capital + Long-Term Liabilities)., Owner’s Capital - Money invested in the business by the owner, including any retained profits.,

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