Page 7 - Finances for Non-Finance People
P. 7
STATEMENT OF
FINANCIAL POSITION
(BALANCE SHEET)
Assets are the things that an organization
owns that have value.
Examples of assets include cash, buildings,
equipment, investments, accounts
receivable, prepaid expenses, and fixed
assets. They are presented in order of liquidity
(how fast the asset can be converted into
cash).
Current assets are those assets that are
generally expected to be available for use
within one-year and long-term assets are
longer than one-year.
