Balance Sheet Unit 5

When listing assets on the balance sheet, is it reverse order or liquidity, ie buildings, vehicles, stock, debtors & cash? Or is it the other way?

I can't remember and I have forgotten my textbook and for some reason its niggling me this morning!!

Comments

  • A-Vic
    A-Vic Registered Posts: 6,970
    Hi Sarah

    You list them in order of liquidty

    Stock
    Debtors (less pro for doub debts)
    Prepayment
    Bank
    Cash
  • Esme
    Esme Registered Posts: 711
    Oh dear.. I didn't realise that!! I was putting the currents assets in the order they were on the TB.

    When you have to write out your own TB on the first part of the FRA exam, does it matter what order you list everything?
  • A-Vic
    A-Vic Registered Posts: 6,970
    I dont think they are gonna take points off for that as long as you have them all in
  • sarahwilson
    sarahwilson Registered Posts: 567
    I dont think the order on the TB matters. The other thing that was niggling me was I know the proforma for the P&L but when you get to the expenses part does that matter what order its in? I tend to put in value order, high to low but I don't know if there is a set way to do it.

    Thanks for all your help:thumbup:
  • A-Vic
    A-Vic Registered Posts: 6,970
    Right second attemp to reply to this thread grrr lol

    No it really doesnt matter our tutor tought us to mark it off the ETB as you list them so then you can mark them as you add them so making sure not to miss any.

    :001_smile:
  • potsandclocks
    potsandclocks Registered Posts: 15 Regular contributor ⭐ ? ⭐
    Hi , If it helps I think of it as a Rhyme Thingy For me its
    South , Beds District Council with a P and when you have written them just swap the B&D round if you can remember might sound silly but then I can remember it
    Not sure if that will help or hinder Karen:thumbup1:
  • potsandclocks
    potsandclocks Registered Posts: 15 Regular contributor ⭐ ? ⭐
    The other rhyme thingy I have is for the Balance sheet which is
    Funny Animals = Fixed Assets
    Clever animals = Current assets
    Can Loose = Current Liabilities
    Faith = Financed By

    It just helps me to remember where to put things Hope it helps Karen:thumbup:
  • sarahwilson
    sarahwilson Registered Posts: 567
    Thats fab karen, have bumped it up on another thread. I find rhymes and stuff make it so much easier to remember things like this.:thumbup:
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