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FINANCIAL ACCOUNTING FAC 1502 ASSIGNMENT 1
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  • Course
  • FINANCIAL ACCOUNTING
  • Institution
  • FINANCIAL ACCOUNTING

FINANCIAL ACCOUNTING FAC 1502 ASSIGNMENT 1FINANCIAL ACCOUNTING FAC 1502 ASSIGNMENT 1FINANCIAL ACCOUNTING FAC 1502 ASSIGNMENT 1FINANCIAL ACCOUNTING FAC 1502 ASSIGNMENT 1FINANCIAL ACCOUNTING FAC 1502 ASSIGNMENT 1FINANCIAL ACCOUNTING FAC 1502 ASSIGNMENT 1FINANCIAL ACCOUNTING FAC 1502 ASSIGNMENT 1FINAN...

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Document information

  • August 14, 2024
  • 2
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • financial accounting
  • financial accounting fac 1502 assignment 1
  • financial accounting fac 1502
  • accounting fac 1502 assignment 1

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  • FINANCIAL ACCOUNTING
  • FINANCIAL ACCOUNTING

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FINANCIAL
ACCOUNTING FAC 1502
ASSIGNMENT 1
Non-current Assets - ANSWER>>>land and buildings

Furniture and equipment

Vehicles

Financial Assets

Non-current Asset - ANSWER>>>Assets of a more permanent nature which are essential in the process
of earning income

Current Asset - ANSWER>>>Assets which have a short lifespan and continually change in the normal
course of business

Current Assets - ANSWER>>>inventories

Debtors

Bills received

Cash at the bank

Asset - ANSWER>>>A resource controlled by the entity as a result of past events and from which future
economic benefits are expected to flow to the entity

Liabilities - ANSWER>>>Present obligations of the entity arising from past events, the settlement of
which is expected to result in an outflow from the entity

Non-current liability - ANSWER>>>Long-term debts, which have to be settled after one year of the date
of the statement of financial position

Current Liability - ANSWER>>>Debts that have to be settled in the short-term, usually within a year from
the date of the statement of financial position

Non-current Liabilities - ANSWER>>>Long-term based loans

Mortgages

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