Rhyme to remember order of Balance Sheet anyone??

KAYLEA
KAYLEA Registered Posts: 4 New contributor 🐸
in AAT student discussion
does anyone have a rhyme to remember the order of the balance sheet?

Comments

  • sarahwilson
    sarahwilson Registered Posts: 551 Epic contributor 🐘
    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
    StarS Registered Posts: 14 New contributor 🐸
    Hi Sarah,
    Can you explain about this? how does it work?
    Thank you.
  • MattW
    MattW Registered Posts: 39 Regular contributor ⭐
    I have one for the order of current assets:

    Smart Dressed People Buy Clothes -

    Stocks
    Debtors
    Prepayments
    Bank
    Cash

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