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balance sheet An overview of the assets and liabilities of an enterprise.
credit side On the credit side (right) of a balance sheet you find the liabilities – owner’s equity and loan capital – that an enterprise has at its disposal.
creditors Debts to suppliers and banks. A supplier (person or enterprise) that must be paid for the provision of a good or a service.
current assets Capital goods which are consumed within one production process or within a year.
debit side On the debit side (left) of a balance sheet you find the assets of the enterprise.
debtors Money that is still owed to the enterprise. A person or enterprise that still needs to pay for goods delivered or services provided.
depreciation An entrepreneur calculates the annual decrease in value of his assets so that he can replace these in due course.
fixed assets Capital goods which last more than a production process or longer than a year.
flow quantity Quantity measured over a certain period, such as income.
liquid assets Possessions with which you can pay directly. Cash and bank accounts.
loan capital The loan capital consists of the debts (borrowed money) of a person or enterprise. Loan capital must be paid back and interest must be paid on it.
owner’s equity The owner’s equity consists of the value of the possessions of a person or enterprise minus the debts of that person or that enterprise.
profit and loss account An overview of the revenue, the costs and the result (=profit or loss) over the past period.
statement of changes A balance sheet on which a change is represented that results from a financial transaction.
stock quantities Quantities measured at a certain moment or time, such as capital.
VAT value added tax, is a tax which consumers pay on the products which they buy. sales tax or turnover tax or purchase tax.

balance sheet
An overview of the assets and liabilities of an enterprise.

credit side
On the credit side (right) of a balance sheet you find the liabilities – owner’s equity and loan capital – that an enterprise has at its disposal.

creditors
Debts to suppliers and banks. A supplier (person or enterprise) that must be paid for the provision of a good or a service.

current assets
Capital goods which are consumed within one production process or within a year.

debit side
On the debit side (left) of a balance sheet you find the assets of the enterprise.

debtors
Money that is still owed to the enterprise. A person or enterprise that still needs to pay for goods delivered or services provided.

depreciation
An entrepreneur calculates the annual decrease in value of his assets so that he can replace these in due course.

fixed assets
Capital goods which last more than a production process or longer than a year.

flow quantity
Quantity measured over a certain period, such as income.

liquid assets
Possessions with which you can pay directly. Cash and bank accounts.

loan capital
The loan capital consists of the debts (borrowed money) of a person or enterprise. Loan capital must be paid back and interest must be paid on it.

owner’s equity
The owner’s equity consists of the value of the possessions of a person or enterprise minus the debts of that person or that enterprise.

profit and loss account
An overview of the revenue, the costs and the result (=profit or loss) over the past period.

statement of changes
A balance sheet on which a change is represented that results from a financial transaction.

stock quantities
Quantities measured at a certain moment or time, such as capital.

VAT
value added tax, is a tax which consumers pay on the products which they buy. sales tax or turnover tax or purchase tax.