Current Assets
any asset which can reasonably be expected to be sold, consumed, or exhausted through the normal operations of a business within the current fiscal year or operating cycle or financial year (whichever period is longer). Typical current assets include cash, cash equivalents, short-term investments (marketable securities), accounts receivable, stock inventory, supplies, and the portion of prepaid liabilities (sometimes referred to as prepaid expenses) which will be paid within a year
[IFRS in Your Pocket 2019].
any asset which can reasonably be expected to be sold, consumed, or exhausted through the normal operations of a business within the current fiscal year or operating cycle or financial year (whichever period is longer). Typical current assets include cash, cash equivalents, short-term investments (marketable securities), accounts receivable, stock inventory, supplies, and the portion of prepaid liabilities (sometimes referred to as prepaid expenses) which will be paid within a year.
The asset side of the balance sheet is divided into 3 major sections. They include current assets, fixed assets, and other assets. Current assets carry the most value to the small business entrepreneur because of the cash conversion requirement.
There are three primary current assets; cash, receivables and inventory. Other current assets include prepaid expenses, short-term notes receivable and some deposits.
J. Downes, J.E. Goodman, "Dictionary of Finance & Investment Terms", Barons Financial Guides, 2003; and J. G. Siegel, N. Dauber & J. K. Shim, "The Vest Pocket CPA", Wiley, 2005.
https://businessecon.org/an-explanation-of-current-assets/