Non-current assets Freehold land and buildings (at cost) Furniture (at cost) … See more

The usual formats for balance sheets make it relatively straightforward to compare one company with another. Both assets and liabilities are classified as being long or short term. … See more

Long-term assets are called ‘non-current assets’. They are still often referred to as ‘fixed assets’ although there is nothing fixed about them: they include cars and aeroplane… See more

Abalance sheet may suggest that a business is financially strong, although it does not prove it. It can also show signs of weakness – and we ignore these at our peril. Acco… See more

Balance sheets can be useful in a number of ways. We saw that the balance sheet, or a statement of assets and liabilities, can be useful in showing what a person or business i… See more