Company accounts Part of financial strategies and accounts for BUSS3 AQA Business 4.5 / 5 based on 3 ratings ? BusinessA2/A-levelAQA Created by: BethanyCreated on: 10-03-13 15:58 Balance sheet Lists of assets and liabilities at a fixed point in time 1 of 19 Assets Things that belong to a business 2 of 19 Liabilities The money which the business owes 3 of 19 Capital The money invested in the business 4 of 19 Total equity The total of all the money put into the business 5 of 19 Bad debts Debts that debtors won't ever pay 6 of 19 Working capital The finance available for day-to-day spending 7 of 19 Capital expenditure Money used to buy non-current assets (sometimes called fixed capital) 8 of 19 Debtors Also known as receivables - people who owe money to the business 9 of 19 Depreciation The lose of value on assets 10 of 19 Income statements Also known as profit and loss account - show how much money's been coming into the company and how much has been going out 11 of 19 Trading account Works out gross profit (one part of the income statement) 12 of 19 Appropriation account Shows what is being done with profit (one part of the income statement) 13 of 19 Profit utilisation How a business uses its profits 14 of 19 Net realisable value The amount the business could get by selling the stock right now in its current state. 15 of 19 Gross profit Revenue - cost of sales 16 of 19 Net profit Gross profit - indirect costs 17 of 19 Operating profit Takes into account all revenues and costs from regular trading, but nor any revenues and costs from one-off events 18 of 19 Retained profit What is left from net profit after tax, once share dividends have been paid to shareholders 19 of 19
Business 2.3.1 - Calculating Gross, Operating and Net profit + Statement of comprehensive income 4.0 / 5 based on 1 rating
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