[SELF ASSESSMENT] REVIEW OF FINANCIAL STATEMENTS Flashcards
CURRENT OR NON-CURRENT: Cash and Cash Equivalent
CURRENT
CURRENT OR NON-CURRENT: Property, plant and equipment
NON-CURRENT
CURRENT OR NON-CURRENT: Financial assets
CURRENT
CURRENT OR NON-CURRENT: Prepaid expenses
CURRENT
CURRENT OR NON-CURRENT: Long-term investments
NON-CURRENT
CURRENT OR NON-CURRENT: Intangibles
NON-CURRENT
CURRENT OR NON-CURRENT: Trade and other receivables
NON-CURRENT
CURRENT OR NON-CURRENT: Inventories
CURRENT
Cash on hand and cash in bank is valued at
face amount
Cash on hand and cash in bank is treated as
Current asset as part of line item cash and cash equivalents provided unrestricted for current operations
Cash in foreign currency is valued at
current exchange rate
Cash in foreign currency is treated as
Current asset as part of line item cash and cash equivalent provided unrestricted for current operations
Cash deposits in foreign countries is valued at
current exchange rate
Cash deposits in foreign countries is treated as
Current asset as part of line item cash and cash equivalent provided unrestricted for current operations
If subject to restrictions and amount is material, shown as part of non-current assets
Cash in closed-bank or under receivership is valued at
net realizable value
Cash in closed-bank or under receivership is treated as
Current asset as part of line item cash and cash equivalent provided unrestricted for current operations
Bank overdraft is valued at
excess amount drawn against deposit
Bank overdraft is treated as
Current liability and not offset against bank account with debit balance except (1) amount is immaterial and (2) there are two or more bank accounts maintained in one bank
Compensating balance is valued at
face amount
Compensating balance is treated as
Current asset as part of line item cash and cash equivalent provided not restricted for withdrawal.
If restricted and related loan is short term – presented as a separate item in current assets
If restricted and related loan is long-term – presented as noncurrent investment