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Resources of value owned by the company that are expected to be converted into cash within one fiscal year. Examples include cash, marketable securities, and inventory.

Long-term investments which are not expected to be turned into cash within the fiscal year. Examples include property, plant, and equipment (PPE), intangible assets, and long-term investments.

Debts or obligations that are due to be paid within one year. Examples include accounts payable, short-term loans, and current portions of long-term debt.

Debts or obligations that are not due within the next year. Examples include long-term loans, deferred tax liabilities, and pension obligations.

The owner's claim after all debts have been paid. Examples include common stock, retained earnings, and additional paid-in capital.

An intangible asset representing extra value of the company due to factors such as brand reputation or customer relations. It's recorded when a company is purchased for more than its fair market value.

Incurred expenses that have not yet been paid or recorded, often appearing under current liabilities. Examples include wages payable and taxes payable.

Payments received by a company for goods or services that have not yet been delivered, listed under liabilities. Examples include gift cards, deposits for future stays or events.

Current assets that consist of items available for sale or the materials used to produce goods. For hospitality, this includes food and beverage inventory, amenities, and hospitality supplies.

Payments made in advance for goods or services to be received in the future, often listed as current assets. Examples include prepaid insurance or rent.

Long-term tangible assets used in the operation of the business, often susceptible to depreciation. Includes buildings, furniture, fixtures, and equipment specific to hospitality like kitchen appliances and beds.

Non-physical assets that can't be touched but are valuable. Examples within hospitality include trademarks, patents, and licensing agreements.

Amounts owed by the company for goods or services received, typically found under current liabilities. Common examples are payments due to suppliers and vendors.

Money owed to the company by customers for goods or services that have been delivered but not yet paid for, often classified as current assets. Examples include unsettled bills from hotel guests or event clients.

The cumulative amount of depreciation expense charged against the fixed assets over their useful life. It's used to calculate the net book value of assets like hotel buildings and vehicles.

The cumulative amount of net income kept in the company after dividends are paid out to shareholders. It can be used for reinvestment in the company, for example, in hotel renovations or expansion.

Investments that a company intends to hold for more than a year. Within hospitality, this might include investments in joint ventures, real estate or other hotels.

Written obligations to pay specific amounts at future dates, which can include interest. Examples include long-term loans for constructing new hotel premises.

Funds raised by issuing shares to investors, found in the equity section of the balance sheet. Examples include common and preferred stock.

Shares that were once outstanding but were bought back by the issuing company, reducing shareholders' equity. This could reflect a company's intention to reduce dilution or alter capital structure.

Taxes that have been accrued but are not due to be paid until a future date. Common causes include timing differences between accounting and tax regulations.

Taxes that have been overpaid or prepaid on the company's balance sheet that are expected to result in a reduction in future tax payments. Instances include tax loss carryforwards.

Income not included in profit or loss that is listed within equity. It includes unrealized gains or losses on investments and foreign currency transaction adjustments related to international hotel operations.

Potential liabilities that may occur depending on the outcome of an uncertain future event. Includes lawsuit settlements or outcomes of tax audits within the hospitality business.