Account Titles

This includes cash on hand (bills, coins, cash fund).

This refers to open accounts which represent the amount of money owed by the customers to the business.

This account represents the amount of money owed by the customer or debtor to the business evidenced by a promissory note.

This represents supplies which remain unused at the end of the accounting period.

This refers to an advance payment made by the business to cover for future rental payments.

This represents manual or automated machines used in the business and they include photocopying equipment, computers, laptops, ring binders, laminating machines.

This refers to the physical structure owned and used by the business to conduct its business operation.

This refers to the physical site owned by the business where the building is situated. It is not subject to depreciation.

What do we call those reasonably expected to be settled by payment of cash, delivery of goods or performance or service within its normal operating cycle or within one year from the reporting date.

This refers to the amount of money owed by the business to creditors or suppliers.