This group of current assets includes prepaid expenses. Other current asset accounts include cash and equivalents, accounts receivable, and inventory. Key Takeaways "Current assets" is a section on a company's balance sheet that often includes prepaid expenses. Prepaid expenses are the money set as...
Current assets that are uncommon will not fall into one of the defined categories listed above. Instead, these assets will be lumped together into a generic “other” categoryand recognized as other current assets (OCA) on the balance sheet. Sometimes, one-off situations, explained in a company...
Which of the following is a non-current asset: A. plant and equipment. B. inventories. C. accounts receivable. D. marketable securities. How to report inventory on balance sheet as asset/equity? Describe what the value of assets would be if liabilities are $12,000 and ...
aThe heading “Other current financial assets” presented on the asset side of the 2007 consolidated balance sheet included in the Group’s 2007 consolidated financial statements has been eliminated. This heading included the following sub-headings: “Trade and other receivables” and “Cash and cash...
When it comes to accounting for other current liabilities, they are typically recorded on the balance sheet of a company. They are listed under the current liabilities section, alongside accounts payable and other short-term obligations. The reporting entity needs to accurately measure and disclose ...
Other current liabilities may be contrasted withother current assets, found on the assets side of the balance sheet. Key Takeaways The term, other current liabilities is a line item on the balance sheet. The word "other" means that these current liabilities are not significant enough to occupy...
Which of the following would not appear as a possible liability on the balance sheet? What is a current liability? Please give us some examples of current liabilities. What is the primary basis for the classification of assets and liabilities in the balance sheet? Explain how ...
Sample 1Sample 2 Based on 2 documents SaveCopy Other Real Estate Owned. As defined in accordance with the then-current regulations of the applicable Bank Regulatory Authority; provided that“Other Real Estate Owned” shall not include assets subject to a loss-sharing agreement with the FDIC. Sampl...
Presentation and disclosure requirements for prepaid assets and other current and noncurrent assets vary depending on the nature of the asset and the underlying guidance. Prepaid assets are required to separately stated on the balance sheet or in a footnote i...
classified as non-current assets. The Group’s loansandreceivablescomprise “non-currentprepaymentand other receivables”,“trade receivables”, “deposits, prepayments and otherreceivables”and “cash and cash equivalents” in the balance sheet (Notes 2.16 and 2.17). ...