Management and Organizational Studies 3360A/B Chapter Notes - Chapter 7: Certified Check, Petty Cash, Cash Cash
Document Summary
If no restrictions on the transfer of the funds to the canadian company, they are included as cash in current assets. If the overdraft is material, it should be disclosed separately either on the face of the statement of financial position or in the related notes: should not be offset against the cash account. Exception is when there is available cash in another account at the same bank as the overdraft. If restricted, identify and report separately as a current or non- current asset. Classify as cash equivalents if investments have a maturity of 3 months or less when acquired. Classify as short-term investments if investments have a maturity of over 3- 12 months when acquired. Classify as receivables if they are considered to be collectible. Classify as receivables or prepaid expenses if they are collectible from employees or to be spent on travel in the future, respectively. Postage on hand (as stamps or in postage meters)