Balance sheet - The financial document that shows a snapshot of a business in a day, Profit and Loss Account - The financial document that shows the Sales and the Profit or Loss for a business in a year, Current assets - The items that a business owns for a short time , Non Current assets - The items that a business owns for longer time than a year, Current liabilities - The items that a business owes for a short time , Non current liabilities - The items that a business owes for longer time than a year, Sales Revenue - When a business makes money . Quantity of units sold x Selling price per unit, Cost of Sales - How much it costs the business to buy the iungredients and the movement of stock (inventory), Expenses - The costs of a business.e.g. electricity, tax, depreciation, labour, Gross Profit - Sales minus Cost of Sales, Net Profit - Gross Profit minus expenses . The Profit for the whole year,

Crosswords Balance Sheet and Profit and Loss Account

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