Current assets are assets which are expected to be consumed or converted to cash within one year or the normal operating cycle whichever is longer
- Cash and cash equivalents
- trading securities
- Accounts receivable and notes receivable
- Inventories
- Prepaid expenses
- Short term investments
- Cash surrender value of life insurance
Current liabilities are labilities which are expected to be paid within one year or normal operating cycle whichever is longer.
- Accounts payable, Notes payable
- Accrued expenses
- Dividend payable
- Payroll expenses due
- Advances from customers