Introduction to the Balance Sheet
Current Assets Overview
Accounts Receivable
Writing Off Accounts Receivable
Estimating Credit Losses
Allowance for Doubtful Accounts
Prepaid Expenses
Inventory Overview
Cost Capitalization in Inventory
Course Review
Course Quiz
Course Description
In the sixth lesson of our "Accounting 101" series, “Current Assets,” you will be introduced to the balance sheet, also known as the statement of financial position, which provides a snapshot of a company’s assets, liabilities, and equity at a specific point in time. This course focuses on a company’s main current assets, such as cash and cash equivalents, accounts receivable, prepaid expenses, and inventory, including the economic benefits associated with each and the circumstances that trigger their recognition.
By the end of this course, you will able to answer questions such as:
• What does a company’s balance sheet reveal about its business?
• What are the optimal methods for managing current assets?
• How does the timing of cash flows affect current assets and liquidity?
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Key Skills
Assets
Current Assets
Noncurrent Assets
Fixed Assets
Productive Assets
Capital Expenditures
Capital Expenses
Capital Assets
Tangible Assets
Intangible Assets
Accounts Receivable
Prepaid Expenses
Inventory
Raw Materials
Work-in-Process
Finished Goods
Cash
Cash and Cash Equivalents
Property
Plant and Equipment (PP&E)
Vehicles
Machinery
Patents
Depreciation
Amortization
Accumulated Depreciation
Accumulated Amortization
Straight-Line Depreciation
Salvage Value
