The Balance Sheet Major Divisions: Assets Current assets (less than a year) Long-term assets (longer than a year) Depreciation Liabilities and Stockholder's Equity Liabilities Current Liabilities Long-term debt Equity .THE COURSE OF FINANCE 2017 SPRING SJTUThe Balance Sheet  Major Divisions:  Assets  Current assets (less than a year)  Long-term assets (longer than a year)  Depreciation  Liabilities and Stockholder’s Equity  Liabilities  Current Liabilities  Long-term debt  Equity •THE COURSE OF FINANCE 2017 SPRING SJTU •6