Rhyme to remember order of Balance Sheet anyone??

KAYLEA

does anyone have a rhyme to remember the order of the balance sheet?

sarahwilson

I can't take the credit for this rhyme, its Karens (potsandclocks) I think but its very good.

Funny Animals = Fixed Assets
Clever Animals = Current Assets
Can Loose = Current Liabilities
Faith = Financed by

StarS

Hi Sarah,
Can you explain about this? how does it work?
Thank you.

MattW

I have one for the order of current assets:

Smart Dressed People Buy Clothes -

Stocks
Debtors
Prepayments
Bank
Cash