8 JPY PES OF AS and shareholders’ funds mirror the financial prsiti Toews fer to property. cash investment and debtors, While ia co an ne asi sey : ‘s 9 ay: 2 Det the amounts of money which a company has to pay out: 8.1. Assets ‘They represent any real or fictitious items that can be given monetay and may be mainly divided into thiee categories, namely fixed or capital permanent assets, current or circ ulating oF floating assets and wasting. ase Liquid, or available assets, net current assets OF working capital may be 4 mentioned. The value of the assets of a business entity as shown in the bala cc sheet is called book value, le the break-up value of the assets represents th value of the assets belonging to a company which goes into liquidation. 8.1.1. Fixed Assets : This category includes the intangible assets referring to goodwill, patents, trade marks etc., the tangible assets, namely land, buildings, chattels and fixtures and the financi assets, namely investments such as stocks and shares or advances to other companies 8.1.2, Current Assets They are also called liquid or available assets since they represent cash or an _ other itern which can be easily converted into cash and mainly refer to stocks a _ shares, Treasury Bills, bills receivable, discounted commercial bills, certificates Re This is a specific category of assets refeRring to the items which are given determined life-span and which require depreciation from the annual profits. 8.2. Liabilities The total debts of a company on the liabilities side of the balance sheet, money owed by the company, represent the category of liabilities. They include current liabilities, namely the debts due for payment within one year, and long te or deffered liabilities which can be repaid for longer one year, ger periods than Account: war term and current interchangeably and, in this res they usually refer to a Period of time less than or equal to ia Vea 8.2.1, Current Liabilities They mainly refer to ered ieee ne i ediors oF accounts payable, taxation payable, ; Se as well as the amounts owed to banks. ong ~ Term Liabilities of - This catego ‘ally j & Gory essentially includes the loan capital, mortgages and debentseMINAR AND WORKSHOP ACTIVITIES wrt Talk ~ Prepare and give a jshort'™ pare and give a short talk on one of the * he difference between assets and abilities following toples: » gypes of assets esypesof liabilities; eshe fined assets; current assets; ine current and long-term liabilities, + the fixed assets; + the current and wasting. > substance of the a: a | + Written Work ~ Write briefly on one of the following topics: and liabilities; | ties current and deferred lia 4 bill in the blanks with the appropriate word in the box below the text: Anything that can quickly be turned into cash represents the large category of... Ss nd. buildings and machinery can be sold or converted into cash while the ... assets including goodwill, patents, trade marks and copyright connot be turned into cash. The ... or shareholders’ equity generally eq als the fixed assets plus the difference between the current assets and liabilities. The category of ... refers to those assets which are used and exhausted in production and cannot be replaced. The current liabilities include ..., taxation payable as well asother debts while the long-term liabilities include the loan capital, ... and debentures. ass E E f tangible; wasting assets; creditors; mortgages; net liquid assets; intangible; assets. 4. Insert in the table below the appropriate type of assets or liabilities: land, copyright, patents, buildings, goodwill, chattels, fixtures, trade marks, stocks and shares, loans, consumables, creditors, Treasury Buls, loan capital, taxation pay- able, certificates of deposit, mortgages, pills receivable, debentures. : m7 Liabilities a - Assets ss as Right or Wrong: tangible and financial assets; ildings, chattels and fixtures, se 5. Assess the following statements * the fixed assets include intangible, * the intangible assets refer t0 lands bui eets include stocks and shares, ‘Eeaaey Bills, bills Feceivable ‘al bills and certificates of deposit; + the wasting assets are goodwill, patents and trade marks; © the value of an assset as shown in the balance sheet is known as book value: «the current liabilities refer to creditors, taxation payable, debts due to trade i hire purchase as well as the amounts owed to banks; ; * the deferred liabilities include the loan capital, mortgages and debentures, * the current as: discounted commer 6. Translate into English: a Jaloarea activelor unei companii, asa cum este prezentata in bilant, se numes valoare contabila. 3 Activele fixe se impart in trei categorii, respectiv imobilizari necorporale, imobiliza corporale si active financiare. Imobilizarile necorporale se refera la reputatie, pate marci si drepturi de autor. Imobilizarile corporale includ terenuri, cladiri, buny mobiliare si bunuri imobiliare. Activele financiare reprezinta plasamente gi credite acordate altor companii Activele circulante reprezint numerar sau obiecte care pot fi usor transfo i in numerar si includ actiuni si pachete de actiuni, bonuri de tezaur, efecte de comer scontate si certificate de depozit. _ _ Activele consumabile au o durata de viati determinati si amortizarea lor se fé din profiturile anuale. Pasivele curente reprezinta datorii cu scadenta la o perioada de un an, iar celep fermen lung sau aménate pot depasi un an, Pasivele curente se refera la creditor _Impozite, datorii din activitatea com Tambursarea creditelor bancare, Pasivel ipotecari si obligatiuni negarantate, erciala sau cumparari in rate, precum $i © pe termen lung includ capitalul din credit