That current assets should be listed in a certain order in the Statement of Financial Position?
The proper way of listing current assets is to have The most liquid current asset at the the bottom, and the least liquid at the top. That is, the more difficult items to convert to cash are first listed, with cash/bank bank at the bottom. The general order is:
- Cash & Bank balances.
(for current assets not falling within the above categories, the accountant has to determine the degree or ease/difficulty with which it can be converted into cash, to determine its place on the list)
Looking at the published accounts of Unilever Nig. Plc.(2013); the current assets are listed as : Inventories, Trade and other receivables, Employee loan receivable, Cash and bank balances.
Have a look at different published accounts to see how current assets are listed.
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