Order of the balance sheet
AmyCharleton
Registered Posts: 3 New contributor 🐸
Also... does anybody have any tricks on how to remember the order of the balance sheet? Thanks :001_smile:
0
Comments
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I remember it by thinking I have to list assets first from easiest to spend to hardest, its obviously easier to spend cash in the bank than it is money a debtor hasn't paid you yet.
Liabilities run on order that they will be cleared off, so its creditors before a mortgage.
Hope that helps0 -
Fixed Assets
Current Assets- In order of liquidity, ie what would be easiest to turn into cash, from bottom to top.
Liabilities
Capital (Financed By)0 -
Thanks for the help! Ive been at FTC today which has helped but the idea about hardest to spend is really good! :thumbup: Thanks guys!0
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