Im looking at this financial worksheet and there are a few categories i do not know:
Trade Receivables
Fixed Assets
Notes Payable
Current Long term debt
Deferred taxes
Thanks Trade Receivables. These are outstanding bills that other companies owe to the company you are looking at
Fixed Assets: Equipment, property
Notes Payable: Short -term Debt owed by the company that you are evaluating
Current Long Term Debt: The portion of long term debt that is due in the current year.
Deferred taxes: A liability recorded on the balance sheet that results from income already earned and recognized for accounting, but not tax, purposes. Also, differences between tax laws and accounting methods can result in a temporary difference in the amount of income tax payable by a company. This difference is recorded as deferred income tax. Notes Payable - debts that comes with a promisory note(a written promise to repay a loan or debt under specific terms)
fixed asset - A long-term, tangible asset held for business use and not expected to be converted to cash in the current or upcoming fiscal year(12 months period), such as manufacturing equipment, real estate, and furniture.
trade receivables- are the amounts owed by customers, prepayments to suppliers and other similar non-financial claims.
current long term debt - represents the amount of long term debt due within the next twelve months.
deffered taxes - an investment in which some or all taxes are paid at a future date, rather than in the year the investment produces income. 1. Trade receivables: the amounts owed by customers, prepayments to suppliers and other similar non-financial claims.
2. Fixed assets: Fixed assets include everything required for the operating cycle that is not destroyed as part of it, as opposed to the current assets. The decrease in the value of fixed assets is accounted for through depreciation, amortisation and impairment losses. A distinction is drawn between tangible fixed assets (land, buildings, machinery, etc, - known as property, plant and equipment in the U.S.), intangible fixed assets (brands, patents, goodwill, etc) and investments. When a business holds shares in another company (in the long term), they are accounted for under investments. Accounting policy for fixed assets can significantly affect the accounting and financial criteria of the financial health of a company (profits, solvency, etc). The state of a company鈥檚 fixed assets is measured the ratio net fixed assets/gross fixed assets.
3. Notes Payable: (couldn't find)
4. Current Long term debt:
Current Portion Of Long-Term Debt:
A portion of the balance sheet that represents the total amount of long-term debt that must be paid within the next year. The balance sheet has a liability section, which is broken down into long-term and current debt. When a debt payment is set to be made in longer than a year's time, it is recorded in the long-term debt section, and when that payment becomes due within a year, it moves to the 'current portion of long-term debt' section.
Notes:
The purpose and importance of this section of the balance sheet is that it gives investors an idea of how much money will be spent this year to resolve the current portion of the long-term debt. This can be compared to the current cash and cash equivalents to measure whether the company is actually able to make the payment. A company with a large current portion and a small cash position has a higher risk of default and should be a warning sign to investors.
5. Deferred taxes: A liability that results from income that has already been earned for accounting purposes but not for tax purposes. Fixed assets also known as property, plant and equipment (pp&e), temr used for assets and property which can't easily be converted into cash.
Notes payalbe mostly knows as promissory notes, are contracts detailing the trems of a promise to pay a sum of money- commonly used for loans and such
Deferred tax meaning future tax liability to asset, due to temporary differences from book value to realistic tax value or asset
Current long term debt is the amount of the debt still owed to the bank. it's the total loan, or credit minus the sum already paid back to the bank. Trade receivables is the amount of money expected from credit sales of goods and services. It is also called Accounts Receivables.
Fixed Assets is the Property Plant and Equipments belonging to the company seen in the Balance Sheat
Notes Payable is the 'I owe you' written by the company for debt undertaken.
Current Long term debt is the long term debt maturing now undertaken by the comapany. The current portion of the long term debt maturing now.
Deferred taxes is the tax reimbursments allowed by the IRS or the tax incentives which are returnable or can be deducted in future. |
