Wion do users need about current assets , Finance Basics

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Wion do users need about current assets

1. What is the definition of a current asset?

2. What is the working capital cycle?

3. What are the features of raw materials, work in progress and finished goods which justify their recognition in a balance sheet?

4. What information do users need about current assets?

5. What is meant by FIFO, LIFO and the average cost method of pricing issues of goods?

6. How is a provision for doubtful debts decided upon?

7. What is a prepayment?

8. What is meant by ‘revenue recognition'?

9. Why are there problems with revenue recognition?

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