Land - The land owned by the company on which the corporate's buildings or plants are sitting on. Land is valued at historical price and is not depreciable below U.S. GAAP (generally accepted accounting principles).
Alternative assets - This is often a special classification for unusual items that cannot be included in one among the opposite asset classes. Examples embody deferred charges (long-term prepaid expenses), non-current receivables and advances to subsidiaries.
Intangible assets - These are assets that lack physical substance however provide economic rights and blessings: patents, franchises, copyrights, goodwill, logos and organization prices. These assets have a high degree of uncertainty in regard to whether or not future edges will be realized. They are reported at historical cost net of accumulated depreciation.
Current liabilities - These are debts that are because of be paid at intervals one year or the operating cycle, whichever is longer. Such obligations can usually involve the employment of current assets, the creation of another current liability or the providing of some service.
Bank indebtedness - This amount is owed to the bank within the short term, like a bank line of credit.
Accounts payable - This quantity is owed to suppliers for merchandise and services that are delivered however not obtained.
Wages payable (salaries), rent, tax and utilities - This quantity is payable to employees, landlords, government and others.
Accrued liabilities (accrued expenses) - These liabilities arise as a result of an expense happens in a amount previous to the connected money payment. This accounting term is usually used as an all-encompassing term that includes client prepayments, dividends payables and wages payables, among others.
Notes payable (short-term loans) - This is an amount that the company owes to a creditor, and it sometimes carries an interest expense.