List of current assets and current liabilities

List of current assets and current liabilities

List of current assets and current liabilities

Current assets:

Current Assets are those assets that are held for a short period of time and can be converted into cash within one year. The balance of such items goes on fluctuating i.e. it keeps on changing throughout the year. It includes the following :

The list of current assets are:

  • Cash in hand,
  • Cash at Bank,
  • Trade Receivables(Bills Receivables and Sundry Debtors),
  • Short term investment
  • Marketable Securities,
  • Inventories,
  • Prepaid expenses,
  • Accrued Income,
  • Current investment,
  • Cheques, Draft on hand,
  • Short-term loans and advances.

Current liabilities:

Current Liabilities are obligations or debts that are payable within a period of one year.
Or
Current liabilities of an enterprise can be defined as the short-duration financial obligations or debts that are due within a fiscal year. It includes the following:

The list of current liabilities are:

  • Trade Payables(Sundry Creditors and Bills Payables),
  • Bank overdraft,
  • Provision for tax,
  • Outstanding expenses,
  • Cash Credit,
  • Short-term borrowings,
  • Income received in Advance,
  • Current Portion of Long-Term Debts,
  • Loans payable on Demand,
  • Interest accrued and due on borrowings,
  • Unpaid dividend.

Also read: Current Ratio

Also read: Liquid Ratio Or Quick Ratio Or Acid Test Ratio

 

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