Assets..

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February 11, 2016 at 6:12 pm #300079
Abror
Member
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Hi Mr John…
One of you lectures you defined non-current assets , assets we intend to keep more than a year….
Question is: At the year end when producing SOFP, if we are certain that we will sell our machine which is non current asset in the following year,,,,,,Can we put this in current asset section…
And does it effect our ratios like current ratio?

Thank you…
February 12, 2016 at 6:46 am #300104
John Moffat
Keymaster
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No – it will remain as a non-current asset.

When it was bought the intention was to keep it. It will always remain a non-current asset until it is sold.
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