Evelyn Rady ?

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The assets shown on the use of funds and are part of the balance of a business entity.

Assets are usually shown on the left side of a balance sheet. Its counterpart are the liabilities, which are shown on the right side of the balance sheet. The asset side shows the use of funds, liabilities, the source of funds.

The assets are divided generally into fixed assets, current assets and prepaid expenses. Additional items or subdivisions are possible.
Fixed assets

When assets are disclosed only the objects that are determined on a continuing basis the operation (§ 247 para 2 HGB). The assets therefore includes the medium and long term commitments of the company. These include in particular the production of necessary infrastructure such as land, buildings and machinery. Also expected to fixed assets are financial assets with a permanent nature, such as bonds or as a multi-year investment or investment acquired shares in other companies.

Continue to include the fixed assets and intangible assets. For this purpose, for consideration include acquired rights such as licenses and patents, established and respected brands in the market as well as special abilities of the company. So what matters in the media industry, the intangible assets of the important elements of the balance sheet, but here are the capitalized expected future revenues from film and music rights and listed. For intangible assets that were not acquired for consideration, an asset may not be recognized (balancing prohibition, § 248 para 2 HGB).

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Current assets

The current assets in this case represents the part of the economic rights, the company has short-term and recurring use. This includes in particular the cash on hand, bank accounts and short-term financial assets. Moreover, where necessary for the production of raw materials and intermediates as well as short-sellable stocks of finished products, components of working capital.
Prepaid expenses

Prepayments and accrued income (RAP) on the assets side issues before the completion date disclosed to the extent they represent expenditure for a certain period after that date (§ 250 para 1 HGB). (ARAP = prepaid expenses) This includes eg prepaid rent. He does however represent a return (eg rental income), then the RAP be shown on the liabilities side. (PRAP = deferred income)

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Other items

Under certain circumstances, or the asset side must be supplemented with additional items. New items may be added if their contents are not covered by a mandatory item. Classification and designation of certain balance sheet items are changed, if so required by special features (the corporation) to establish a clear and concise financial statements (§ 265 HGB para 5 and 6).

Are known as accounting aids e.g. Start-up expenses and business expansion expenses (§ 269 HGB) and deferred taxes (§ 274 para 2 HGB) disclosed. Outstanding contributions to subscribed capital are on the asset side, the assets shown separately and termed accordingly (§ 272 para 1 HGB).
Assessment of assets

When assessing the assets in the balance sheet analysis, in particular the relationship of individual asset positions to the corresponding liabilities and the ratio is considered to be the income.

The assets alone give little information about the soundness and profitability, as only the connection between the existing rights and obligations to draw conclusions about the future prospects of the company allows. In particular, as a golden rule for assessing the financing of fixed assets that no long-term investments can be financed with short-term debt. In order to ensure liquidity is to be avoided, that the obligation to repay the debt prior to a successful utilization of the acquired rights.

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For the assessment of the assets can otherwise be difficult to establish general principles, because the distribution is very different between different sectors and sizes of businesses. This only helps the comparison between companies in the same industry with similar size.

In particular, the intangible assets must be considered in detail in each case. Already included in the term, not directly measurable value of these assets can be accounted for only with clear rules. Here are the rules be clear, comprehensible and if in doubt interpreted conservatively.
National Accounts

In the balance sheets of the national accounts to put the assets consist of the assets and debts.

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The balance sheet (Italian bilancia, scales, in the sense of balance beams, lat bilanx, about double scale) is a statement of sources and uses of the capital of a business entity - hereinafter usually explained on the basis of a company. The balance sheet is a brief comparison of wealth (assets) and liabilities (liabilities) in account form.

While the names of assets (Assets, assets) and liabilities (liabilities, liabilities) is largely undisputed, is its description and approach vary by country, sector and area of ??use: How can the balance of pages in a static trade or tax balance sheet with assets and liabilities . rewrite The terms of funds (investment) or origin of funds (financing) are typical terms to describe the dynamic movement of cash flows for balance within the cash flow statement. The cash flow (cash flow) takes place here between the various asset and liability accounts.

The Franciscan monk and mathematician Luca Pacioli in 1494, described in his book Summa de Arithmetica, Geometria, proportioning et Proportionalità the first complete presentation of the "Venetian Method" (duplicate accounts), as it was probably practiced in the Italian city-states driving distance trade. Venice was then the center of a world economy that stretched from Poland to Western Europe and the Mediterranean Sea to the Black Sea. [1] The basic principle of double entry, which also applies to the presentation of the balance has remained unchanged to this day, and is used worldwide .

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The balance sheet is part of the year, interim financial statements or other date analysis of a company. They, together with the profit and loss account of the economic success of a company in a past consideration (usually the fiscal year in the financial statements or to another date) dar. A balance is created on a specified date, while the profit and loss account for a fixed period is created. The timing of the creation of balance is the balance sheet date. Computing Technically, the balance of the determined from the accounts at a closing summary and systematically structured balance sheet dar. By comparing the closing stocks of various asset and liability accounts - especially the capital account - at different points in time, the economic development of a company represented time across and through inspection accounting can be traced. For this reason we speak in accounting from the business property comparison.

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The balance sheet has the following functions:

Documentary feature: The balance sheet gives a definitive information on the existing assets of the company. By holding the assets in the balance this is a commercial and tax law, significant computational work on the business transacted by the company. The balance thus represents the formal completion of the accounting dar.

Profit calculation function: Another function of the balance sheet is the determination of net profit. The comparison of equity at the beginning of the fiscal year with the results at the end of the fiscal year, taking account of the deposits and withdrawals on the profit or loss of a period. The existence of the gain or loss is proved in detail on the capital account the upstream profit and loss account (income statement).

Information function: It can be divided into self-service information and third information. Goal of self-information is to give to the merchant along the way an instrument for managing the company. For interested parties (creditors, potential creditors, business partners, public authorities - such as tax authorities, chambers of commerce, social insurance - employee) the balance of an information tool provides regarding their future behavior toward the company dar. The balance is from this perspective in a broader sense the creditor protection.

Colloquially referred to also balance the entire financial statements of a company. The assessment of a company based on its annual financial statement analysis is called accordingly. It is an integral part of fundamental analysis.

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Current balances: balance sheets are typically created at least at each financial year, for example, on 31.12. one year. Listed companies are also to publish interim financial statements committed to the end of each quarter. (Weekly, monthly, quarterly and annual financial statements)
Special accounts: In addition to the regular accounts to be created there are outstanding balances, which at various times by law or as a basis makes sense. These include in particular the establishment of the liquidation balance sheet and balance sheet and balance sheet such as a merger. (Other types: balance sheet analysis and remediation)
For most companies it is required by law to create both a trade balance and a balance control. Of the terms is clear already that there can be differences of approach between the two balance sheets and evaluation. The trade balance is here the actual, present for the conditions relevant stakeholders of the company. The purpose of the tax balance sheet is a true success for determining the taxation of earnings under the income tax, corporation tax, but also the image of corporate assets for inheritance tax purposes, formerly the property tax.
Depending on the number of the reporting entity, a distinction between the individual balance sheet included in the annual financial statements and the consolidated balance sheet, which is part of the consolidated financial statements and are eliminated in the example assets and debt consolidation certain intercompany mutual obligations.
The merchant must at the start of his business to set up a ratio of its assets and its liabilities Dramatic opening balance sheet (§ 242 para 1 HGB).
A focus on balancing the financial ratios retreating special form is the intellectual capital. It focuses on the intellectual capital of an organization and shows the interrelations between organizational objectives, business processes, intellectual capital and the commercial success of an organization.

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The balance sheet is shown divided into two areas:

The page of assets is the use of funds: assets show, which claims the company has earned him the available economic resources. These claims may be money (eg cash, bank accounts), means of production (eg, real estate, machinery), raw materials, intermediates and other material goods. In addition, a number of intangible assets shall be listed - these are not always directly in financial terms (see below, Current problems in accounting), but there are often good clues for an estimate. Roughly forms the active site from the asset structure of the company.
The liabilities side is the source of funds: Liabilities to show how funds are financed with which the Company generated (Figure financing structure). This is especially distinguished between debt and equity. The equity consists of the resources that are not subject to third party refund claim, ie in particular the introduced common and capital stock and the company itself generated reserves and undistributed profits. The debt includes funds that are used by third parties (for a limited time) made available, for instance, mortgages, bonds, loans and supplier credits.

Assets are usually shown on the left side of the balance sheet, the liabilities on the right side. On both sides must have the same sum of all items showed total assets.

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