Short-term, temporary securities that can be quickly and easily converted to cash. Listed in the current assets section on the statement of financial position. See also cash. Financial statements of a company that presents the financial information of all its holdings as one company. Assets a company can convert to cash within one year.
Examples are accounts receivable and inventories of products to sell.
Listed in the assets category on the statement of financial position. See also accounts receivable, assets, fixed assets. Obligations a company has to others, such as creditors, suppliers, and tax authorities, payable within one year. Listed in the liabilities category on the statement of financial position. See also accounts payable, debt, income taxes.