insurance industry education

insurance industry education
you may already know that a balance sheet is a snapshot of the financial situation at a given moment. It is usually refer to the end of the year, although some companies may choose to implement a draft of the quarterly . These reports are composed in one of two types. In general, the basic formula for a balance-sheet assets = liabilities + shareholders or equity holders

1. Report Form
a) Assets
Assets are assets of the assets company.List not the majority of the company's worth.

There are 3 types of assets:

i) Fixed assets
The value of the assets of companies and owners are most often listed at cost less depreciation where assets are applicable.These by the company to produce, store, display and transportation of their goods and services.
Please remember that the depreciation is an accounting technique to disseminate the article on expected normal life.

ii) Current assets
Current assets are cash and cash equivalents. These assets are:
* Cash
* Stocks and bonds: These are short-term investments, which in a year or less.2.
* Accounts and notes receivable: The contracts are only written guarantees to pay within a short period of time.
* Inventory: This consists of goods on hand and waiting for sale to customers.
* Prepaid Expenses: Prepaid services or materials and supplies.

iii) Other assets:
Other assets include a variety of something that can not be converted to cash within one year. It includes:
* Cash values of life insurance.
* Intangible assets, including leases, patents, copyrights, trademarks and goodwill, etc.
* Investments and investment in other companies.
* Prepaid expenses or accruals for more than a year.

2. Liabilities
a) current value to the following:

Liabilities are debts that will be paid sometime in the future, including:
i) Liabilities: Amounts owed to other companies.
ii) Notes Payable: receivables to a bank or other lender.
iii) Accrued liabilities: Receivables, but not through.

b) Long-term debt
Long-term debt, debt by more than one year from the date of the balance sheet.

3. Bearer Share
Shareholders equities capital is durable and of capital and stokes is obvious by the shareholders' certificates.

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