Difference between revisions of "Current Assets"
From Open Risk Manual
Wiki admin (talk | contribs) |
Wiki admin (talk | contribs) |
||
| Line 2: | Line 2: | ||
'''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. | '''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<ref>IAS 1.66</ref> | + | More specifically, current assets are assets that are:<ref>IAS 1.66</ref> |
| − | |||
* expected to be realised in the entity's normal operating cycle | * expected to be realised in the entity's normal operating cycle | ||
* held primarily for the purpose of trading | * held primarily for the purpose of trading | ||
| Line 10: | Line 9: | ||
| − | They include | + | They include: |
* [[Cash]] | * [[Cash]] | ||
* [[Government Bonds]] | * [[Government Bonds]] | ||
| Line 17: | Line 16: | ||
* [[Inventory]], and | * [[Inventory]], and | ||
* prepaid expenses. | * prepaid expenses. | ||
| + | |||
| + | == Usage == | ||
| + | * [[Statement of Financial Position]] | ||
== See Also == | == See Also == | ||
| Line 24: | Line 26: | ||
== References == | == References == | ||
<references/> | <references/> | ||
| + | |||
| + | == XBRL Properties == | ||
| + | * IFRS Prefix: ifrs-smes | ||
| + | * Element Name: Current assets [abstract] | ||
| + | * Common Initials: | ||
| + | * Element Type and Attributes: Aggregate | ||
| + | * [[Accounts Hierarchy Structure | Hierarchy Level]]: 2 | ||
| + | * IFRS References: | ||
| + | |||
[[Category:Balance Sheet Balances]] | [[Category:Balance Sheet Balances]] | ||
| + | [[Category:XBRL]] | ||
Revision as of 21:50, 12 April 2021
Definition
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:
- Cash
- Government Bonds
- Marketable Securities and notes
- Accounts Receivable
- Inventory, and
- prepaid expenses.
Usage
See Also
References
- ↑ 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:
