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current asset
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   Also found in: Dictionary/thesaurus, Financial, Wikipedia 0.02 sec.

current asset

Any asset of a business that could be turned into cash in a limited period of time, generally less than a year. Current assets include stocks, accounts receivable or billings, short-term investments, and cash.



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Disabled American Veterans National Headquarters Unaudited Statement of Financial Position * June 30, 2005 Unrestricted Assets Current Assets $31,961,053 investments, at market 250,329,366 Land, buildings and Equipment, Net of Depreciation 12,325,859 Total Unrestricted Assets $294,616,278 Life Membership Assets Current Assets $6,845,700 Investments, at Market 53145679.
Due to a last minute Balance Sheet reclassification of deposits in prepaid expenses to machinery and equipment on AAON's (Nasdaq:AAON) Balance Sheet at March 31, 2005, total current assets decreased by $1,347,000 from $61,031,000 to $59,684,000, while total property and equipment and net property, plant and equipment increased by the same amount to $89,508,000 and $50,608,000, respectively.
 
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