Current assets

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

11 March 2015 I want what is the difference between Assets and Current Assets?. How one can judge from the nature of transactions whether it CA or Assets.

CA AnKiT BoHrA (AB)

CA AnKiT BoHrA (AB) (Expert)
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12 March 2015 Current assets are cash and other resources that are reasonably expected to be realized in cash or sold or consumed within one year of the balance sheet date or the company's operating cycle, whichever is longer.

by using this criteria u can judge from nature of transaction whether it is CA or Asset

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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12 March 2015 simply check whether the asset can materialise in co's operating cycle or not like say in a year then its current asset.

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