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balance sheet

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above-the-line activities

above-the-line activities  

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A corporate or banking obligation that must appear on the balance sheet (cf. below-the-line activities). Sometimes known as on-balance sheet. See financial lease.
accounting

accounting  

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The systematic recording, reporting, and analysis of transactions, particularly financial ones, in order to support effective management and decision‐making, by providing the required information. ...
accounting equation

accounting equation  

The formula underlying a balance sheet; it can be expressed as:assets = liabilities + capital.assets = liabilities + capital.An increase or decrease in the total assets of a concern must be ...
accounts

accounts  

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1 The profit and loss account, balance sheet, and cash-flow statements of a company. See financial statements.2 See account.
accounts payable

accounts payable  

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The part of a firm's liabilities, as shown in its balance-sheet, consisting of bills received from suppliers on which payment is due but has not yet actually been made.
accounts receivable

accounts receivable  

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The part of a firm's assets, as shown in its balance-sheet, consisting of bills sent to customers on which payment is due but has not yet actually been received.
accrual

accrual  

An estimate in the accounts of a business of a liability that is not supported by an invoice or a request for payment at the time the accounts are prepared. An accrual is a current liability on the ...
accumulated depreciation

accumulated depreciation  

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The total amount of the depreciation written off the cost price or valuation of a fixed asset since it was brought into the balance sheet of an organization.
adjusted trial balance

adjusted trial balance  

A trial balance to which adjustments have been made; for example, there may be prepayments and accruals that need to be taken into account. Separate columns are used for these adjustments, one for ...
adjusting entries

adjusting entries  

Entries made at a balance-sheet date under an accrual accounting system to ensure that the income and expenditure of the business concerned are included in the correct period. Examples of adjustments ...
annual accounts

annual accounts  

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Audited financial statements published by an organization, partnership, or incorporated business in compliance with statutory requirements. In most countries, semi-annual but unaudited statements are ...
articulated accounts

articulated accounts  

Accounts prepared under the double-entry book-keeping system, in which the retained earnings figure on the profit and loss account equals the increase in net worth of the business on the balance ...
asset

asset  

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1 Any item owned or right possessed by a firm or individual which has an economic, commercial, or exchangeable value.2 The entries recorded on the left-hand side of a balance sheet (cf. ...
asset classification

asset classification  

The classification of assets as required by law on a balance sheet. Assets must be classified as fixed (i.e. held for use on a continuing basis) or current (i.e. not intended for continuing use but ...
authorized share capital

authorized share capital  

The maximum amount of share capital that may be issued by a company, as detailed in the company's memorandum of association. At present the authorized share capital must be disclosed on the face of ...
balance sheet

balance sheet   Reference library

The Handbook of International Financial Terms

Reference type:
Subject Reference
Current Version:
2005

A statement of an organization's financial position at a certain time showing all its assets and liabilities (cf. financials).

balance-sheet asset value

balance-sheet asset value  

The value of an asset as represented on the balance sheet. For tangible fixed assets this is the cost less accumulated depreciation (although freehold land is generally not subject to depreciation). ...
balance-sheet formats

balance-sheet formats  

Methods of presenting a balance sheet, as set out in the Companies Act. There are two formats: one vertical (format 1) and one horizontal (format 2). Both formats give the same basic disclosures, but ...
balance-sheet total

balance-sheet total  

The total net worth of an organization as shown at the bottom of the balance sheet, i.e. the fixed assets plus net current assets less long-term liabilities. In the qualification conditions for small ...
bank return

bank return  

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Report prepared by a bank for its regulator. It normally states the amount and type of assets on the bank's balance sheet (cf. eligible assets).

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