Current Assets means…
…those items owned by the business which could be turned into cash within the normal operating cycle of the business, usually 12 months.
Examples of current assets are:-
- Cash on Hand;
- Sundry Debtors;
- Inventory or Stock;
- Deposits; and
- Cash Floats
WHAT’S IT MEAN? Quickies
This post is part of the “What’s it Mean?” series of short and sweet responses.
Be sure to check the other posts in the series for more quick definitions. You can follow the series along on the blog or read them first by subscribing to our popular Business Plus+ newsletter.
Article by Christie Lewis
Christie is Practice Manager at Alan Lewis Accountants . Besides accounting, her passion is for all things small business (and blogging, of course). You can contact Christie directly at christie@lewistaxation.com.au.
Christie has written 799 awesome articles for us at Alan Lewis Accountants – BLOG
Twitter: @christielewis
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