Search for notes by fellow students, in your own course and all over the country.
Browse our notes for titles which look like what you need, you can preview any of the notes via a sample of the contents. After you're happy these are the notes you're after simply pop them into your shopping cart.
Document Preview
Extracts from the notes are below, to see the PDF you'll receive please use the links above
Assets
Definition: assets are items that can be used, can be own, have monetary value and
able to generate income
...
Example: trademark, patent, right, reserve,
investment, intellectual properties
2 kinds of assets:
(In physical)
Tangible assets
It can be touched
It can be seen
It has monetary value, on the paper/ document
...
Assets that can be used for more than 1 year
It is a long term assets
...
High level of liquidity
Example: cash account, account receivable,
inventory
Why cash account can be considered as current assets and not Non-current asset?
A business will definitely use cash account for more than 1 year and yet it still be said
as non-current assets
...
There will be cash in and cash out
...
Then, what will happen when the balance in cash account remain the same for more
than 1 year?
Reclassified them as non-current assets and can be considered as investment
...
High liquidity means asset can
be easily be changed into cash
...
Low liquidity means, it
take time to convert certain assets into cash
...
So need to wait for more than 1 year to receive cash