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current assets

Hi

What is a Current Asset ? Can we create a sub-asset under the current asset ?

thanks in advance to all gurus

regards

ravi

Former Member
replied

HIii..

In accounting, a current asset is an asset on the balance sheet which is expected to be sold or otherwise used up in the near future, usually within one year, or one business cycle - whichever is longer. Typical current assets include cash, cash equivalents, accounts receivable, inventory, the portion of prepaid accounts which will be used within a year, and short-term investments.

The fixed asset is identified by the main asset number. Each individual part of the asset, or subsequent acquisitions, can be represented by a sub-number. You have to enter separate master data for each sub-number.

You cannot create current asset as sub asset.

Regards,

Aakash

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