Can you tell us what kind of plant assets are used in your company or place of business?
Do you have an estimate of the amount invested in those plant assets?
Plant assets are resources that have physical substance (a definite size and shape), are used
in the operations of a business, and are not intended for sale to customers. They are called
various names – property, plant, and equipment; plant and equipment; and fixed assets.
I don’t have the work experience in big company. But in the small company, it is really hard
distinguish the plant assets. Because of in many small businesses, the personal assets are same as
the companies’ assets. For example, a SUV, it is used for company delivery also used for owner’s family.
The retail store where I was in before, the plant assets include three computers, four shelves, two
cabinets, and some tables and chairs. In a retail store, the current assets are always more than the plant
And the cost of the plant assets are not very expensive, total about $3000 ~ $4000.
Why are liabilities classified on a balance sheet as current and non-current? Who wants to
know? What is the benefit of knowing this information?
The debts of a company reasonably expect to pay are different, so the liabilities classified on
a balance sheet as current and non-current.
Current liabilities are obligations that the company is to pay within the coming year or
operating cycle, whichever is longer.
It includes notes payable, accounts payable, unearned
revenues, and accrued liabilities such as taxes, salaries and wages, and interest.
The long-term liabilities are obligations that a company expects to pay after one year.
Liabilities in this category include bonds payable, mortgages payable, long-term notes