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Non-current assets are long-term investments, versus current assets that a company can quickly turn into cash.
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:
Under US General Accepted Accounting Principles (GAAP), non-cash activities may be disclosed in a footnote or within the cash flow statement itself. Non-cash financing activities may include: [15] Leasing to purchase an asset; Converting debt to equity; Exchanging non-cash assets or liabilities for other non-cash assets or liabilities; Issuing ...
The terms equity [for profit enterprise] or net assets [not-for-profit enterprise] represent the residual interest in the assets of an entity that remains after deducting its liabilities (CF E61). Equity accounts include common stock, paid-in capital, and retained earnings. Equity accounts can vary depending where an entity is domiciled as some ...
Intangible assets are non-physical resources and rights that have a value to the firm because they give the firm an advantage in the marketplace. Intangible assets include goodwill, intellectual property (such as copyrights, trademarks, patents, computer programs), [4] and financial assets, including financial investments, bonds, and companies ...
Cash equivalents are short-term commitments "with temporarily idle cash and easily convertible into a known cash amount". [1] An investment normally counts as a cash equivalent when it has a short maturity period of 90 days or less, and can be included in the cash and cash equivalents balance from the date of acquisition when it carries an ...
A ledger account is created for each account in the chart of accounts for an organization and is classified into account categories, such as income, expense, assets, liabilities, and equity; the collection of all these accounts is known as the general ledger. The general ledger holds financial and non-financial data for an organization. [3]
Capital appreciation; Capital expenditure; Capital gain; Capital surplus; Cash flow; Cash flow forecasting; Cash flow statement; Chart of accounts; Checkoff; Clean surplus accounting; Clearing account; Constant purchasing power accounting; Convention of consistency; Convention of disclosure; Cost of goods sold; Cost principle