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• • Current assets are assets that are expected to be converted into cash or used up within one year or one operating cycle, whichever is longer. They are listed on a company's balance sheet and provide liquidity to fund day-to-day operations.
• Cash Physical currency, coins, and balances in bank accounts
• Accounts Receivable Amounts owed to the organization by customers for goods or services delivered on credit
• Inventory Goods held by the organization for sale or production
• Prepaid Expenses Expenses paid in advance which have not yet been used or consumed
• Short term Investment Investments that can be easily converted into cash within a year, such as marketable securities and bonds with short maturities.
• Non-current assets, also known as long-term assets or fixed assets, are assets that are not expected to be converted into cash or used up within one year or one operating cycle, whichever is longer. Non-current assets are typically reported on the balance sheet separately from current assets and are subject to depreciation or amortization over their useful lives.
• Property, Plant and Equipment Long-term tangible assets used in the operation of the business
• Intangible assets Assets that lack physical substance but have value to the company. Examples include patents, trademarks, copyrights, goodwill, and intellectual property.
• Long term investment Investments in other companies or securities that are not intended to be liquidated in the near future, such as stocks, bonds, and long-term loans.
• Deferred tax asset Tax assets that arise from timing differences between accounting and tax rules, allowing for future tax deductions or credits.
• Current liabilities are obligations or debts that a company is expected to settle within one year or one operating cycle, whichever is longer. They are listed on the balance sheet and represent the company's short-term financial obligations.
• Accounts Payable Amounts owed by the organization to suppliers for goods or services purchased on credit
• Loans Payable Amount borrowed by the organizations from the lenders
• Accrued Expenses Expenses that have been incurred but not yet paid
• Deferred Revenue Revenue received in advance of being earned
• Notes Payable (if they are due to be repaid within one year) Written promises to pay a specified sum of money at a future date.
• An income statement shows a company’s revenues, expenses and profitability over a period of time. It is also sometimes called a profit-and-loss (P&L) statement or an earnings statement. It shows your revenue

  expenses net income
• Revenue Also known as sales, revenue is the amount of money a company has earned by selling its products and services in the period. The revenue amount includes only money made from core activities of the business—those related to its primary operations.
• Cost of goods sold/cost of sales The cost of goods sold (for manufacturing companies) or cost of sales (for retailers and wholesalers) is all the direct costs associated with making or acquiring the company’s products and/or offering its services. The amount typically includes raw materials and labor along with amortization expenses. It doesn’t include indirect costs, such as administration, marketing, sales or distribution.
• Gross profit Gross profit (sometimes called gross margin or contribution margin) is revenue minus cost of goods sold/cost of sales. Gross profit is used to calculate the gross profit margin, a commonly used profitability measure. This metric is often used as an indicator of a company’s efficiency and can be benchmarked against industry peers.
• Operating expenses (also called selling, general and administrative expenses, or SG&A) are the indirect costs of running the business. These may include:

  rent and utilities

  marketing and advertising

  insurance

  office supplies

  maintenance and repairs

  employee benefits

  accounting and legal fees

  property taxes
• Operating income is what is left over after operating expenses are subtracted from gross profit.
• Non-operating items are gains and losses from non-core activities. Examples may include: interest dividends one-time items such as asset sale earnings or relocation costs
• Earnings before taxes (also called income before taxes) is the amount of money left after all expenses and losses are subtracted from all revenue and gains. EBT is often used as a profitability indicator because companies pay taxes at different rates depending on their location.
• Expenses is costs incurred by the organization in the process of generating revenue
• Net income (aka net profit) is the amount left over after income taxes are subtracted from EBT. It is used to calculate other useful measures, such as: net profit margin, a widely used profitability indicator of that can be benchmarked against industry peers EBITDA (earnings before interest, taxes, depreciation and amortization)
• Cost of Goods Sold (COGS) The direct costs associated with producing goods or services sold by the organization
• Salaries and Wages Compensation paid to employees for their services
• Rent Expense The cost of leasing space or equipment for business operations
• Utilities Expense The cost of essential services such as electricity, water, and gas.
• Depreciation Expense The allocation of the cost of tangible assets over their useful lives