Financial statements bingo

Exercise and reference answers

Clues and terms

1. Clue

   Shows what a firm owns and owes on a date.

   Item

   Balance sheet

2. Clue

   Statement showing performance over a year.

   Item

   Profit loss

3. Clue

   Prescribes the form of company accounts.

   Item

   Schedule III

4. Clue

   Funds head holding share capital and reserves.

   Item

   Shareholders

5. Clue

   Head for items lasting beyond one year.

   Item

   Non-current

6. Clue

   Head for stock, debtors and cash.

   Item

   Current asset

7. Clue

   Money owed by the firm to its suppliers.

   Item

   Trade payable

8. Clue

   Asset with a physical form, such as plant.

   Item

   Tangible

9. Clue

   Asset with no physical form, such as goodwill.

   Item

   Intangible

Instructions

Read each clue and tap the term it describes.

Explanation