Download presentation
Presentation is loading. Please wait.
1
Balance!!!! ****Draft Version***
Holton Agriculture Education Department Agribusiness Management
2
Holton Ag Ed Department - Agribusiness Management Class
Life Happiness = ????? Holton Ag Ed Department - Agribusiness Management Class
3
Life Happiness = Personal Life - Professional Life
My Equation: Life Happiness = Personal Life - Professional Life Holton Ag Ed Department - Agribusiness Management Class
4
Holton Ag Ed Department - Agribusiness Management Class
Definition: Solvency Describes a business in sound financial condition which is able to pay all of its liabilities. Holton Ag Ed Department - Agribusiness Management Class
5
Holton Ag Ed Department - Agribusiness Management Class
Equation: Net Worth NW = A - L Holton Ag Ed Department - Agribusiness Management Class
6
Holton Ag Ed Department - Agribusiness Management Class
Today’s Purpose: Distinguish between assets and liabilities and give examples of each Describe the structure and major components of a balance sheet Accurately transfer financial information to a balance sheet Holton Ag Ed Department - Agribusiness Management Class
7
Anything of value owned by a business or individual.
Definition: Asset Anything of value owned by a business or individual. Holton Ag Ed Department - Agribusiness Management Class
8
What are some examples you can think of?
Example: Assets What are some examples you can think of? Holton Ag Ed Department - Agribusiness Management Class
9
Money, goods, and services that are owed to someone else.
Definition: Liabilities Money, goods, and services that are owed to someone else. Holton Ag Ed Department - Agribusiness Management Class
10
Who can share some specific examples?
Example: Liabilities Who can share some specific examples? Holton Ag Ed Department - Agribusiness Management Class
11
Are there differences within Assets or within Liabilities?
Thought Question!!! Are there differences within Assets or within Liabilities? Holton Ag Ed Department - Agribusiness Management Class
12
Current - Around for less than 1 year
Two Distinctions: Current - Around for less than 1 year Non Current - Around for more than 1 year Holton Ag Ed Department - Agribusiness Management Class
13
Holton Ag Ed Department - Agribusiness Management Class
Current Asset Cash Market Livestock Feeder Steers Barrows Grain Feed Straw Welding Rod Fuel Pesticides Potting Soil Can you think of others? Holton Ag Ed Department - Agribusiness Management Class
14
Holton Ag Ed Department - Agribusiness Management Class
Current Asset Cash Market Livestock Feeder Steers Barrows Grain Feed Straw Welding Rod Fuel Pesticides Potting Soil Can you think of others? Holton Ag Ed Department - Agribusiness Management Class
15
Holton Ag Ed Department - Agribusiness Management Class
Current Asset Cash Market Livestock Feeder Steers Barrows Grain Feed Straw Welding Rod Fuel Pesticides Potting Soil Can you think of others? Holton Ag Ed Department - Agribusiness Management Class
16
Holton Ag Ed Department - Agribusiness Management Class
Non Current Asset Breeding Stock Vehicles Land Fences Welder Greenhouse Equipment Tractor Combine Trailer Computer Can you think of others? Holton Ag Ed Department - Agribusiness Management Class
17
Holton Ag Ed Department - Agribusiness Management Class
Current Liabilities Feed Bill Interest on Loans Current Portion of Non Current Debt Can you think of others? Holton Ag Ed Department - Agribusiness Management Class
18
Non Current Liabilities
Land Loan Equipment Loan Mortgage on home Can you think of others? Holton Ag Ed Department - Agribusiness Management Class
19
This completed powerpoint will be sent to you in its entirety.
Similar presentations
