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Unformatted text preview: year or in the operating cycle, whichever is longer. Current assets are presented in order of liquidity. Items in the current asset section, include: Unrestricted Cash any cash restricted for purposes other than current obligations is excluded from current assets. Short-term investments - classified as either: **trading - reported at FMV **available-for-sale - reported at FMV ** held-to-maturity - reported at amortized cost. Receivables Must also disclose: ** the amounts of expected uncollectibles ** nontrade receivables **accounts pledged or discounted Inventories Must also disclose: ** The basis of valuation (e.g., lower of cost or market) **pricing method (e.g., FIFO, LIFO, etc.) ** stage of completion Prepaid expenses Any non-current prepaid (s) are reported as deferred charges in the "other asset" section. The answer to the question is current assets, but wanted to give the list of current assets....
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This note was uploaded on 07/10/2011 for the course BUSINESS 450 taught by Professor Bayer during the Spring '11 term at Limestone.
- Spring '11