Current Assets

A current asset is cash and any other company benefit that will be turning to cash within one year in the normal course of business. Current assets include accounts, cash, receivable, stocks, prepaid expenses, marketable securities, and other liquid assets that can be readily converted to cash.

Definition, Explanation and Characteristics of “Depreciation” or “Accounting Depreciation

Definition, Explanation and Characteristics of “Depreciation” or “Accounting Depreciation”: Learning Objectives: Define and explain the terms “depreciation” or “accounting depreciation”. The value of assets gradually reduces on account of use. Such reduction in value is known as depreciation. Different authors have given different definitions

Balance Sheet

Balance Sheet: Learning Objectives: Define and explain balance sheet. How is a balance sheet prepared? What are the objectives of preparing a balance sheet? Definition and Explanation: A balance sheet is a statement drawn up at the end of each trading period stating therein