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2. How Accounts Payable Are Recorded on a Balance Sheet - AOL

   www.aol.com/accounts-payable-recorded-balance...

   For example, the accounts payable amount of $500 for a tool purchase belongs on the liabilities side of the balance sheet. But the value of the tool itself belongs on the assets side of the ...

3. Balance sheet - Wikipedia

   en.wikipedia.org/wiki/Balance_sheet

   A balance sheet is often described as a "snapshot of a company's financial condition". [1] It is the summary of each and every financial statement of an organization. Of the four basic financial statements, the balance sheet is the only statement which applies to a single point in time of a business's calendar year. [2]

4. Chart of accounts - Wikipedia

   en.wikipedia.org/wiki/Chart_of_accounts

   Accounts may also be assigned a unique account number by which the account can be identified. Account numbers may be structured to suit the needs of an organization, such as digit/s representing a division of the company, a department, the type of account, etc. The first digit might, for example, signify the type of account (asset, liability ...

5. Cash and cash equivalents - Wikipedia

   en.wikipedia.org/wiki/Cash_and_cash_equivalents

   Moreover, if cash is expected to be used within one year after the balance sheet date it can be classified as "current asset", but in a longer period of time it is mentioned as non- current asset. For example, a large machine manufacturing company receives an advance payment ( deposit ) from its customer for a machine that should be produced ...

6. Income statement - Wikipedia

   en.wikipedia.org/wiki/Profit_and_loss

   The purpose of the income statement is to show managers and investors whether the company made money (profit) or lost money (loss) during the period being reported. An income statement represents a period of time (as does the cash flow statement). This contrasts with the balance sheet, which represents a single moment in time.

7. Consolidated financial statement - Wikipedia

   en.wikipedia.org/wiki/Consolidated_financial...

   A consolidated financial statement (CFS) is the "financial statement of a group in which the assets, liabilities, equity, income, expenses and cash flows of the parent company and its subsidiaries are presented as those of a single economic entity", according to the definitions stated in International Accounting Standard 27, "Consolidated and separate financial statements", and International ...