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Flashcards in Current Assets & Liabilities Deck (11):
1

Cash plus other assets that are expected to be sold or converted to cash during the current operating cycle

Includes: Demand deposits, cash equivalents, accounts receivable, inventory, pre-paids, and short-term investments

Current Assets & Liabilities

2

A liability expected to be paid within 12 months or less

Current Assets & Liabilities

3

(Cash + A/R + Trading Securities) / Current Liabilities

Current Assets & Liabilities

4

Currents Assets / Current Liabilities

Current Assets & Liabilities

5

Currents Assets - Current Liabilities

Current Assets & Liabilities

6

Credit Sales / Average A/R

Current Assets & Liabilities

7

COGS / Average Inventory

Current Assets & Liabilities

8

365 / Inventory Turnover

Current Assets & Liabilities

9

Average A/R / Average Sales per Day

Current Assets & Liabilities

10

They are NOT accrued due to Conservatism

Current Assets & Liabilities

11

If Probable - they are accrued (if estimable) and disclosed

If Reasonably Possible - they are disclosed

If Remote - don't accrue or disclose

Current Assets & Liabilities