Current assets, Accounting Standards

Current Assets

These are assets that will normally be converted in cash within a year or inside the operating cycle. The operating cycle is the duration in time considered by a unit to convert raw material in finished goods, in addition time to sell it and at last, plus time to get cash from debtors to whom goods are sold. For example, in a simple trading operation, we use cash to buy merchandise and sell it to recover cash. The operating cycle wherein a situation will consist of the period for that, merchandise inventory and receivables are held. The cycle begins with cash and ends along with the collection of cash. Current Assets are liquid and current liabilities can be met from the realization of them.

Posted Date: 4/3/2013 6:34:08 AM | Location : United States







Related Discussions:- Current assets, Assignment Help, Ask Question on Current assets, Get Answer, Expert's Help, Current assets Discussions

Write discussion on Current assets
Your posts are moderated
Related Questions
To finish this scenario, use the Confidence Interval Calculator Sheets 1,2,3 and the Area Gas Prices - Random Sample Excel file, linked in the Resources. The Minneapolis Star Tr

Objectives of final accounts describe Final Account; know their objectives and preparation of Trading and Loss and Profit Account; find out the difference among Trad

illustration

3. Solve the following Linear Programming Problem using Simple method. Maximize Z= 3x1 + 2X2 Subject to the constraints: X1+ X2 = 4 X1 - X2 = 2 X1, X2 = 0

Wise Owls, an NFPO, began operations at the beginning of 20X1 to provide free tutoring and homework assistance, as well as a nutrition program, to low-income immigrant children. T

These are assets or things of value without physical dimensions. They cannot be touched; they representing intrinsic value without material being and they are incorporeal. One of t

a.Compute the number of preferred shares that were issued during 20X6, which is Preferred stock, $100 par value, 10% $580,000 $500,000

i have an assignment that is requiring me to build my own Accounting framework. this assignment is not a research or textual assignment it must have a thinking process, so i can an

Q. Accounting Education Change Commission? Accountants in practice as well as business executives have generally been dissatisfied with accounting graduates' capability to thin

Now assume that you have been asked how to account for the destroyed drilling operation in the Gulf Mexico in terms of the destroyed right and lost natural resources. Provide a rat