The Balance Sheet (1) — Assets

Abstract

In the last chapter you will recall that a key question to ask about any business is ‘What is it worth?’ A good starting point in an attempt to answer this question is to make a list of all the things of value in a firm, place a value on the items and then get a total value. The things of value in a business are called ‘assets’ and they are always included in the balance sheet if they are owned by the business.