Accounting Classifications of Assets

Abstract

V~arious classifications have hitherto been and are proposed of the credit side of the balance sheet, which are called assets. In this paper, we shall firstly be concerned with why such classifications have been and are made. Taking into consideration the fact that much importance is attached to the income statement not only among the related circles of our own, but also among those abroad in recent times, we shall further inquire into the problem, whether or not the proposed classiflcations are complete. It will also be studied that what kind of classiflcations should be employed of the items of the balance sheet and how shall we understand the balance sheet from such a view-point.