Non current Asset
NON-current
Non-current
asset
Assets
Non-current
Assets
Revenue
Non-current
Assets
Revenue
Non-current
Assets
Revenue
Non-current
Assets
Revenue
Non-current
Assets
Revenue
Non-current
Assets
Revenue
Non-current
Assets
Long term liabilities
(payable after one
year)
Short term liabilities (payable
after one year)
 Bank loan
 Bank Overdraft
 Trade Payables (suppliers)
 Owing expenses
 Debentures
 Prepaid income
•
Supplier (Trade
payable account)
Purchase account
(Business purchase goods from suppliers)
Purchase return
or Return out-ward
Business
Revenue (sales) account
(Business sells goods to customers)
Customer (Trade
receivable account)
Sales return or
Return in-ward account
Capital Expenditure:
Expenditure incurred on non-current assets
Revenue Expenditure
Expenditure incurred on day to day
payments
Accounting Terms
1. Capital
2. Assets
- Non- current Assets
- Current assets
3. Liabilities
- Non- current Liabilities
- current liabilities
4. Expenditure
- Capital expenditure
- Revenue expenditure
5. Trade payables (supplier)
6. Trade receivables (customers)
7. Movement of goods
- Purchase account
- sales account
- Sales return or Return
inward account
- Purchase return or Return
outward account