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Asset & Liabilities

August 5, 2009
Corporate balance sheet structure:
Guidelines for corporate balance sheets are given by the International Accounting Standards Committee and numerous country-specific organizations.
If applicable to the business, summary values for the following items should be included on the balance sheet:

Assets:
Current assets:
1. inventories
2. accounts receivable
3. cash and cash equivalents
Long-term assets:
1. property, plant and equipment
2. investment property, such as real estate held for investment purposes
3. intangible assets
4. financial assets (excluding investments accounted for using the equity method, accounts receivables, and cash and cash equivalents)
5. investments accounted for using the equity method
6. biological assets, which are living plants or animals. Bearer biological assets are plants or animals which bear agricultural produce for harvest, such as apple trees grown to produce apples and sheep raised to produce wool.

Liabilities:
1. accounts payable
2. provisions for warranties or court decisions
3. financial liabilities (excluding provisions and accounts payable), such as promissory notes and corporate bonds
4. liabilities and assets for current tax
5. deferred tax liabilities and deferred tax assets
6. minority interest in equity
7. issued capital and reserves attributable to equity holders of the parent company

Equity:
The net assets shown by the balance sheet equals the third part of the balance sheet, which is known as the shareholders’ equity.
1. numbers of shares authorised, issued and fully paid, and issued but not fully paid
2. par value of shares
3. reconciliation of shares outstanding at the beginning and the end of the period
4. description of rights, preferences, and restrictions of shares
5. treasury shares, including shares held by subsidiaries and associates
6. shares reserved for issuance under options and contracts
7. a description of the nature and purpose of each reserve within owners’ equity
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