Current assets

/Current assets

Current assets

Current assets: Resources expected to be used or converted into cash within one year of the balance sheet date (or longer if operating cycle is greater than a year)

Examples:

Cash and cash equivalents: Currency and cash accounts with an original maturity 90 days or less

Accounts receivable: Cash customers owe a business

Inventory: Materials used to make products Prepaid expenses: Expenses paid in advance

Investments: Purchased for financial gain

H_2F_Current_assets

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By | 2018-01-22T10:24:36+00:00 August 5th, 2015|0 Comments

About the Author:

John Gillingham is a CPA and Accounting App Developer in San Francisco, California. Check the iOS App Store for Accounting Flashcards and the Debits & Credits Game. On Android: Learn Accounting Flashcards. Also on Kindle and iBooks.

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