It’s important to understand the assets your business holds, because those assets are the raw material you have to work with. Fixed assets include anything more difficult to liquidate-like real estate or intellectual property.Current assets include cash and anything you can convert into cash within one year-like inventory.There are two types of assets-current assets, and fixed assets. Property and equipment: Equipment and real estate you depend on to do business.Inventory: The total cash value of everything in inventory.Accounts receivable: Payments customers or clients owe you.What are assets?Īssets are anything valuable that belongs to your company. The first step is understanding assets-what your company owns. Create financial projections for the future of your business.Once you’ve got a firm grasp of assets, loans, and liabilities, and organized bookkeeping to track them, you can use them to: What are assets, liabilities, and equity? How do I track assets, liabilities, and equity with a balance sheet?.What are assets, liabilities, and equity?.
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