Types of assets

Insert the following accountancy terms into the following texts:

liquid assets

wasting assets

fixed assets

intangible assets

1. . are those which cannot easily be quantified. 2. . are land, buildings or machines which cannot be sold as they are required for the running of the business. 3. . are those assets which will be consumed in the course of the companys business. 4. . are those assets which can easily be turned into cash.

Now label the following pictures with the appropriate term:

FOR SALE Small shop, very popular, lots of regular customers.

Only 3000

Discussion points

1. What kind of assets might be described as wasting assets? 2. What kind of businesses might have a large amount of intangible assets? 3. What kind of assets might be described as fixed assets? 4. Which of the following are intangible assets? a) b) c) d) e) the value of a companies shares the value of a companies computers the value of a companies personnel the value of a companies outstanding invoices

5. What does the verb to waste mean? a) b) c) d) to cost a lot of money to lose value to gain value to stay at the same value

6. How do you assess the value of a companys intangible assets?

Vocabulary check

Look at the Swedish words below and see if you know the correct English translation:

1. 2. 3. 4.

tillgnger fast egendom immateriella tillgnger disponebel tillgnger

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