Active

In accounting, an asset is a tangible or intangible good that is owned by acompanyo

natural person. By extension, it is also referred to as the set of assets of
a company. In itself, it is what a company owns.

Active is a system built with goods and services, with functional capabilities and
operational activities that are maintained during the development of each socioeconomic activity
specific.1

The concept of asset in accounting has evolved from a legal consideration

what was required to be considered active, the ownership of goods or rights until the
currently requires only the control of the asset or right. It is currently considered
"Assets" are those goods or rights that have a future economic benefit. This does not
it doesn't mean that ownership or possession or money is necessary. The
assets are a resource or economic good from which benefits are obtained. The assets of
Companies vary according to the nature of the activity carried out.

Passive

In accounting, aLiabilities are a debt or a commitment that a company has incurred,

institution or individual. By extension, the term passive is also used to refer to the set of debts.
of a company. Whilethe assetunderstands the financial assets and rights of the
company, which hasthe personthe company, the liabilities collectyour obligations: it is el
financing provided by a creditor and represents what the person or company owes to
third parties,1such as payments to banks, suppliers, taxes, salaries to employees, etc.2
Current assets

Current asset, also referred to as circulating asset, is thatthe assetliquidto the

end of the fiscal year, or convertible into cash within twelve months. Additionally, it
they consider currents as those assets applied for the cancellation of uin passive
current, or quand avoid expenses during the exercise. They are components of the asset
current assets, trade receivables and other accounts receivable, investments
short-term financing and treasury.

Fixed asset

Fixed assets are those that do not vary during the company's operating cycle.
(or the fiscal year). For example, the building where a factory assembles its products is a
fixed asset because it remains in the company throughout the entire production and sales process
of the products. A counterexample would be a real estate agency: the buildings that the real estate agency
purchases for resale vary during the operating cycle and therefore are part of the
current assets. To meFor some time, the real estate agency's offices are part of its assets.
fixed.
deferred, from the

1. adj. Postponed, delayed:

deferred action.
2. delayed adj. and adv. In radio and television, [program] that is broadcast with
subsequent to its recording:
they broadcasted the concert on tape delay.

Short-term liabilities

Short-term liabilities refer to payment obligations (deferred dividends,

commercial credit, outstanding taxes, short-term loans to be repaid
terms) arising in the normal course of a business and with a maturity of less than one year.
It is also called current liabilities and is represented on the Balance Sheet.
Situation within the Financial Statements.
Long-term liabilities

Long-term liabilities refer to the payment obligations that a company has.

whose return will be effective in a period exceeding one year (bonds, loans,
long-term liabilities are represented on the Balance Sheet within
the Financial Statements.

BOX

Name of theaccountofactivethrough which they gothe inputsand outputsofmoney. Ein a

broader sense, within itsbalancedifferencebetweencollectionsand payments) is not included
only themoneystored in the box itself, but also themoneydeposited
in thebanks, of thewhat can bedisposeimmediately or invest it inassets
financialeasilyrealizable(liquids). According to this second meaning, the concept of
box is identified with the dthe treasurythe cash-flow. (See Cash-flow.)
Banks
It is all the cash or money that the company has stored in banking institutions.
or financial and that were deposited by the company; both in national currency and
in foreign currency; In their Savings and Current accounts.

Clients

In accounting, just like in daily life, the term clients refers to those
individuals or companies that buy goods and services that are usually the subject of
Sale or provision by the company.
Debtors

While remains those people who acquire goods or services different from
those that are normally provided by the company, so they do not have the strict condition of
clients. The same term is used for the receivables that arise when to the
the company is granted an unofficial exploitation subsidy.

This distinction between clients and debtors is extremely important, since the origin of
these collection rights are different. The first ones are closely linked to the
ordinary income from the operation and the latter to income unrelated to the operation.

Accounts Receivable
They are all documents or credit titles such as promissory notes, bills of exchange, etc.
favor of the company that were signed by clients or third parties.

Accounts receivable

Accounts receivable records the increases and decreases stemming from sales of
Concepts distinct from goods or the provision of services, solely and exclusively on credit.
documented (credit titles, promissory notes, and bills of exchange) in favor of the company and for
There are programs to carry out the operations.
Therefore, it is said that this account presents the right (enforceable) that the entity has to
demanding payment of their debt from the subscribers of the credit titles
documented) derived from the sale of concepts different from goods or services
on credit services; that is, it presents a reasonably expected future benefit.

Goods Merchandise or Inventories

They are all the articles or products that were acquired with the purpose of being sold and
that are used in buying and selling operations.

RENT PAID IN ADVANCE

Real account of current assets. Corresponds to the amount acquired for rent.
which must be paid in advance, either due to contract conditions or due to the start
for rent where generally months are charged in advance.
COMMISSIONS PAID IN ADVANCE

Nominal account located in the Income Statement under the cost section of
sales, which will increase the cost of the merchandise purchased as an expense
on commission.

INTEREST PAID IN ADVANCE

Real account of current assets. When a loan is requested from a bank, it does not give you the
money that he requested in full, but rather gives him what he asked for minus the interest
corresponding to the term you requested, that is, it charges you interest for
anticipated.
PREPAID INSURANCE

Real account of current assets. When an insurance policy is contracted of any

type, it must be paid at the time of contracting the policy, so it has been canceled a
expense that will be incurred in the next year, if the insurance was taken for one year.

FURNITURE AND EQUIPMENT

Real account of non-current assets. It consists of all furniture and fixtures.

that are owned by the company and are used in production or service areas,
among them are mentioned shelves, desks, files, chairs, among others.

MACHINERY AND EQUIPMENT

Actual account of non-current assets. They are all those machinery and equipment that the
Company for carrying out its commercial activities related to manufacturing,
modification or services.
VEHICLES

Real account of non-current assets. They are the vehicles that the company has for use.
different from the distribution of goods and various transfers.

BUILDINGS

Real account of non-current assets. Reflects the building(s) purchased by the company.
to rent them out and obtain additional income or to sell them later.
most expensive land (as an investment). But when it comes to the building for daily use of the
company with its offices, warehouses, or factory (as fixed asset). This is not acquired by
the company with speculative purposes, but with the aim of using them in activities
her normals.
LAND

Real account of non-current assets. Represents all those places or land space.
company property.

COMPUTING EQUIPMENT

Real account of non-current assets. Composed of all computing equipment.

company property, computers, computer systems, etc.
ORGANIZATION EXPENSES

Real account of assets (non-current). These are expenses related to the organization.
and the company's capital, which can reach quite high figures.

Advances received for sales

Amount received "on account" of future sales or services provided

Suppliers

They are the individuals or businesses to whom we owe for having purchased from them.
goods on credit, without providing any documentary guarantee.
Creditor

A creditor is that person(physicsor legal)legitimately updated to demand the

paymentor compliance with aobligationcontracted by two parties beforehand. That is to say,
that even if one of the parties runs out of means to fulfill their obligation,
this persists. For example, in the case of thebankruptcyof onecompanyhis creditors maintain
the power to require compliance with said obligation. It has merit to obtain
something. Action or right to request the fulfillment of an obligation, that is, to be given
satisfy a debt.

DOCUMENT TO BE PAID

Those in which there is a promise to pay unconditionally on a specific date,

certain amount ofMoney. I don't [Link] under this denomination the mortgages, the certificates
mortgages and the bonds or obligations in circulation.

Term applied toa Promissory Note,regarding your drawer. The name of an account of the
mayor or a game ofBalance Sheet, whichshow separately or in one
amount, eThe Passivewith banks, with suppliers, and with other creditors, represented by
promissory notes or other obligations with fixed terms.
Loans Payable:

Financial liabilities other than short-term trade payables in

normal credit conditions.

Accounts payable

In accounting, Onecount by notes anyimporton one sidedebtor, that

appears as a result of apurchaseofgoodsor servicesin terms ofcredit, toa
creditor part.

Although alegal entitymake a purchase without issuing the intent in writingpayment ion,
register in accounting, andthe amountindebted like acurrent obligationein their accounts.
Thecompaniesoften incur in this type ofdebitshort term in order to cover costs
your inventories, andespecially andin industrieswhere isinventory performanceis
accelerated.

DOCUMENTS AND ACCOUNTS PAYABLE

The documents and accounts payable represent present obligations arising from the
operations of past transactions such as the incision of goods or services or
for the tension of loans for the financing of the assets that constitute the asset.
Mortgage

The mortgageit is a real rightof guarantee and realization of value, which is established for
ensure compliance with an obligation (usually payment ofa credito
loan) abouta good(generalmeto the propertywhich, although recorded, remains in
power ofits owner,being able tothe creditormortgage, in case of thedebt
if the guarantee is not satisfied within the agreed period, promote the forced sale of the asset
recorded with the mortgage, whoever its holder is at that momentnto (repersecutoriness)
to pay the due credit, up to the amount available
obtained from the forced sale promoted for the realization of the mortgaged assets.

GUIDE FOR MANAGING ASSET ACCOUNTS

This guide will allow you to easily familiarize yourself with accounting during the development of
the following weeks.

AVAILABLE CURRENT ASSET

General box

Represent cash in coins, banknotes, and checks

Petty cash

It represents a petty cash fund for minor expenses.

Banks
Represent the money deposited in savings accounts and checking accounts, deposits to
fixed term.

CURRENT ASSETS RECEIVABLE

Clients

What people owe us for merchandise they have purchased on credit

Debtors

What people owe us not for goods but for loans to other people

Documents receivable

This account includes all those documents that have been filmed in our favor of the
business

REALIZABLE CURRENT ASSET

Goods

They are all the items available for sale.

CURRENT ASSET

Prepaid expenses

These are expenses that have been paid in advance and that give the owner certain rights.
of the business or company. They can be:

Prepaid rents

Advance commissions paid

Prepaid interest

Prepaid insurance

Fixed Asset

Furniture and Equipment

They are furniture of all types, such as: desks, chairs, tables, counters,
shelves, typewriters, calculators, etc.

Tools

They are all the utensils used within the company, such as: hammers, pliers,
screwdrivers, hoes, etc.

Machinery and Equipment.

These are all the machines used in the company for manufacturing or transforming.
raw materials such as sewing machines, electric saws, etc.

Vehicles

Vehicles available for the business, cars, motorcycles, bicycles, trucks, carts,
etc.

Buildings

The houses and buildings of the company.

Land

It is the portion of land that is occupied, not taking into account the building or construction.

Real estate

It comprises both the building and the land.

Livestock

Include the animals available for the business; such as oxen, mules, horses, etc.

Computer equipment

It consists of computers, printers, UPS, and power regulators.

DEFERRED ASSET

Installation costs

Register the expenses incurred during the business formation period

Organization expenses

Understand the expenses incurred during the company's formation period

(conditioning of premises, installation of furniture, etc.)

To have a clearer concept of capital, let's make a classification of it.

capital depending on the area in which it is applied.

CAPITAL IN ECONOMICS:

It is one of the factors of production. It represents the set of goods that serve to
produce wealth. For example, the tools that a carpenter uses for his work.
They are their capital.

FINANCIAL CAPITAL:

It is the money we invest to generate more in any commercial activity.

EQUITY:

It is the difference between the sum of assets minus the sum of liabilities. C = A - P

CAPITAL IN WORK:

Difference between the sum of current assets and the sum of current liabilities.

CAPITAL IN TRANSIT:

It is the total sum of the assets.

In our accounting material, we will study and practice equity.

C = A–P

GUIDE FOR MANAGING LIABILITIES ACCOUNTS

SHORT-TERM LIABILITY

Advances on sales

It is the value of the money that a client advances us for a work that we have not yet done
delivered.

Providers
Represents what we owe to people or companies

Creditors

It represents what we owe to individuals or companies for reasons other than purchase.
goods.

Documents payable

Represents the promissory notes or documents signed by the merchant in favor of

third parties (1 year or less).

Accounts payable

It is the value of other payables, different from those of suppliers, such as energy.
electricity, rentals, and others.

Rent collected in advance

It represents a liability because the payment of the rent and others has been received.

Advance rentals collected

It represents a liability because the rent payment has been received but it has not
service provided

Taxes to be paid

It represents the balance of the taxes owed to the Government; among them, the VAT for
pay, income tax and others.

LONG-TERM LIABILITIES

Documents payable

Represents the letters or documents signed by the merchant in favor of third parties.
people (for a period longer than a year).

Mortgages

This account includes the loans that the merchant has received, giving as
property guarantee.