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Current assets include cash, cash equivalents, short-term investments in companies in the process of being sold, accounts receivable, stock inventory, supplies, and the prepaid liabilities that will be paid within a year. [1] Such assets are expected to be realised in cash or consumed during the normal operating cycle of the business.
A fixed asset (also known as long-lived assets or property, plant and equipment (PP&E)) is a term used in accounting for assets and property that may not easily be converted into cash. [1] Fixed assets are different from current assets, such as cash or bank accounts, because the latter are liquid assets. In most cases, only tangible assets are ...
Inventory appears as a current asset on an organization's balance sheet because the organization can, in principle, turn it into cash by selling it. Some organizations hold larger inventories than their operations require in order to inflate their apparent asset value and their perceived profitability.
An asset is a present right of an entity to an economic benefit (CF [2] E16). Common examples of asset accounts include cash on hand, cash in bank, receivables, inventory, pre-paid expenses, land, structures, equipment, patents, copyrights, licenses, etc. Goodwill is different from other assets in that it is not used in operations and cannot be ...
The timely replacement of vehicles and equipment is a process that requires the ability to predict asset lifecycles based on costing information, utilization, and asset age. Organizations prefer to use new fleet as a strategy for cost reduction where the used fleet is sold so that a new fleet is maintained.
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