Renaissance for LEADERS

Peak Performance Resources for Leaders by Leaders

Tag: Balance Sheet

Asset

1. Somebody or something that is useful and contributes to the success of something. 2. A property to which a value can be assigned. 3. The property that is owned by a particular person or organization. 4. The property of a person that can be taken by law for the settlement of debts or that forms part of a dead person’s estate. 5. The items on a balance sheet that constitute the total value of an organization.

Book Value

1. The value of an asset on a company’s balance sheet, which is often different from the amount the asset is worth on the open market. 2. The value of a company’s net assets as per its balance sheet (calculated as assets, less liabilities).

Financial Plan

A working document that includes a vision statement, long and short term financial goals, current income and expense statements, balance sheet, cash flow forecast, asset allocation plans, return on investment metrics, tax liabilities and management, life, income and medical insurance policies, financial records archive, future estate and retirement plans, opportunity cost analysis, measurement metrics and milestones, specific action plans to achieve the stated goals, as well as contingency arrangements, alternative courses of action and critical path analysis.

Liability

1. Legal responsibility for something, especially costs or damages. 2. Anything for which somebody is responsible, especially a debt. 3. Something that holds somebody back or causes trouble. 4. Somebody who prevents a successful outcome or causes social embarrassment. 5. Likelihood or probability of something happening. 6. All debts and other financial obligations that appear on a balance sheet.

Unrecognized Asset

An asset that an individual, team, or business has that they are unaware of or don’t recognize their true value. These assets are not listed on their financial statement or balance sheet and include relationships, customer base, vendors, investors, systems, ideas, know-how, specialized knowledge, marketing strategies, technologies, excess capacity, talent, capability, free time, creativity, written off inventory, custom software, current expenditure, unexplored markets, wasted resources, etc. and ways these assets are valuable to others and can be monetized.

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