Prepaid expenses

Costs, such as insurance, that are paid in advance before they are used or consumed.

Investments

This represents the value of stocks and bonds held by the organization as investments.

Fixed assets

Also known as Plant, Property, and Equipment. This includes assets such as Equipment, Land, Building, Furniture and Fixtures.

LIABILITIES

A present obligation of the organization as a result of its past activities from which an outflow from the organization’s resources is expected. To simplify, liabilities represent your organization’s outstanding debts to an individual or an organization.

Accounts payable

Amount owed to vendors and suppliers for goods and services rendered.

Grants payable

Grant amount promised to individuals or organizations.