Current Assets

From Open Risk Manual


Current Assets. They are valuable assets (resources or property) of an organization that will be turned into cash within one year, or used up in the operation of the organization within one year.

More specifically, current assets are assets that are:[1]

  • expected to be realised in the entity's normal operating cycle
  • held primarily for the purpose of trading
  • expected to be realised within 12 months after the reporting period cash and
  • cash equivalents (unless restricted).

They include indicatively:


The identification of current assets and in particular the comparison with Current Liabilities provides information about the Liquidity profile of a firm over the corresponding annual period.

See Also


  1. IAS 1.66

XBRL Properties

  • IFRS Prefix: ifrs-smes
  • Element Name: Current assets [abstract]
  • Common Initials:
  • Element Type and Attributes: Aggregate
  • Hierarchy Level: 2
  • IFRS References: