Accounting capital and revenue expenditure

Current assets

Assets that companies expect to convert to cash or use up within one year .

Non-current assets

Items that a business owns that have a lifespan greater than a year

Revenue expenditure

the money spent on day-to-day expenses which does not involve the purchase of long-term asset, treated as an expense

Capital expenditures

This refers to the legal costs incurred with non-current asset purchases

Tangible assets

Physical assets, such as real estate and automobiles, that can be held for either consumption or investment purposes

Intangible assets

Long-term assets (e.g., patents, trademarks, copyrights) that have no real physical form but do have value

Loans

Amounts of money borrowed which will accumulate interest

Hire purchase

The buying of equipment by paying in instalments, usually including interest.

Leasing

Renting a product while ownership title remains with the lease grantor

Part exchange

A method of buying something new such as a car by giving your old one as part of the payment for the new one.

Non-current assets register

A detailed record of property, plants and equipment showing they were bought, depreciation, disposal and carrying value

Current assets

Which of these is not on the Non-current register: Type, Date, description, cost, depreciation, current assets, carrying value, funding method, disposal proceeds and disposal date.

Capital receipts

non-recurring funds generated from activities like loans, disinvestment, or asset sales

Revenue Receipts

recurring income from regular operations, such as taxes, fees, or profits from public enterprises