current assets are indedede for sale consumption in thi companies normal
Answers
Current assets are those assets that are expected to be used (sold or consumed) within 12 months.
Current assets include (according to the IFRS):
Current inventories
Trade and other current receivables
Current tax assets
Current biological assets
Other current financial assets
Other current non-financial assets
Cash and cash equivalents
Current non-cash assets pledged as collateral for which transferee has right by contract or custom to sell or repledge collateral
Explanation:
An entity shall classify an asset as current when (IFRS, IAS 1): it expects to realise the asset, or intends to sell or consume it, in its normal operating cycle; it holds the asset primarily for the purpose of trading; it expects to realise the asset within twelve months after the reporting period;