What Does Current Asset Mean? Contents[show] The most common current assets arecash,accounts receivable,inventory, and prepaid expenses. These are all resources that a company can use in the current period to purchase new assets, pay debts and expenses, or convert into cash. ...
The generally accepted accounting principles (GAAP) define an asset as impaired when its fair value is lower than its book value. To check an asset for impairment, the total profit, cash flow, or other benefit expected to be generated by the asset is compared with its current book value. I...
A current asset is a company’s cash and its other assets that are expected to be converted to cash within one year of the date appearing in the heading of the company’s balance sheet. However, if a company has an operating cycle that is longer than one year, an asset that is expect...
A fixed asset is a type of noncurrent asset. Noncurrent assets include a variety of assets, such as fixed assets, intellectual property, and other intangibles. In general, a fixed asset is a physical asset that cannot be converted to cash readily. Fixed assets include property, plant, a...
Define in accounting terms what are retained earnings. Distinguish between current and long-term assets. Define return on assets and explain what it measures. How does the Fixed Asset Manager calculate current period depreciation? Define the following term: Return on a...
A、Materiality B、Business entity C、Consistency D、Going concern 查看答案
Ch 5.Internal Controls in Accounting Ch 6.Merchandising Operations and Inventory... Ch 7.Receivables in Accounting Ch 8.Completing the Operating Cycle in... Ch 9.Long-Term Assets in Accounting Ch 10.Current and Long-Term Liabilities in... ...
What is the basic equation of accounting? A. Assets = Liabilities + Equity B. Revenue - Expenses = Profit C. Depreciation - Amortization = Loss D. Cost of Goods Sold + Operating E. xpenses = Net Income 相关知识点: 试题来源: 解析 A ...
Current Assets, Financial Instruments, IFRS Videos, Revenue Recognition 62 When the new IFRS 15 introduced contract assets, it caused a bit of confusion among accountants, although it is not completely a new concept. When to account for a contract asset and when for a trade receivable? Analogic...
The current portion of long-term debt is the amount of principal that will be due within one year of the date of the balance sheet