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  2. IFRS 5 - Wikipedia

    en.wikipedia.org/wiki/IFRS_5

    the asset's fair value less the cost of selling this asset. Non-current assets 'held for sale' should be presented separately on the face of the statement of financial position as a current asset. For a non-current asset (Fixed Asset) to be classified as 'held for sale', all of the following 4 conditions must be satisfied:

  3. Cost of goods sold - Wikipedia

    en.wikipedia.org/wiki/Cost_of_goods_sold

    If she uses FIFO, her costs are 20 (10+10). If she uses average cost, her costs are 22 ( (10+10+12+12)/4 x 2). If she uses LIFO, her costs are 24 (12+12). Thus, her profit for accounting and tax purposes may be 20, 18, or 16, depending on her inventory method. After the sales, her inventory values are either 20, 22 or 24.

  4. Cash and cash equivalents - Wikipedia

    en.wikipedia.org/wiki/Cash_and_cash_equivalents

    Current ratio is generally used to estimate company's liquidity by "deriving the proportion of current assets available to cover current liabilities". The main idea behind this concept is to decide whether current assets which also include cash and cash equivalents are available pay off its short term liabilities (taxes, notes payable, etc.)

  5. How Accounts Payable Are Recorded on a Balance Sheet - AOL

    www.aol.com/accounts-payable-recorded-balance...

    The supplier allows the purchase to be made on credit or on account, meaning no cash is exchanged at the time of the transaction. In this case, $1,000 is recorded in accounts payable as a ...

  6. Working capital - Wikipedia

    en.wikipedia.org/wiki/Working_capital

    Current assets and current liabilities include four accounts which are of special importance. These accounts represent the areas of the business where managers have the most direct impact: cash and cash equivalents (current asset) accounts receivable (current asset) inventory (current asset), and; accounts payable (current liability)

  7. Current liability - Wikipedia

    en.wikipedia.org/wiki/Current_liability

    The difference between current assets and current liabilities is referred to as trade working capital. Beginning on January 1, 2024, the International Accounting Standards Board amended IAS 1 with regards to the classification of certain liabilities as current or noncurrent in the presentation in financial statements. Previously, the IAS 1 ...

  8. Fixed asset - Wikipedia

    en.wikipedia.org/wiki/Fixed_asset

    A baking firm's current assets would be its inventory (flour, yeast, etc.), the value of sales owed to the firm from credit extended (i.e. debtors or accounts receivable), and cash held in the bank. Its non-current assets would be the oven used to bake bread, motor vehicles used to transport deliveries, and cash registers used to handle cash ...

  9. Net operating assets - Wikipedia

    en.wikipedia.org/wiki/Net_operating_assets

    To calculate NOA or the Invested capital, the balance sheet must be reformatted to separate operating activities from financing activities. Operating activities are anything that involves the day-to-day running of the business such as accounts receivable, inventory, etc.; and financing activities are any accounts that are "interest-bearing" or have financial characteristics and are not related ...