Components in FSA terms remember, actually, problems, reading, current

soddy1979

I’ve been having trouble in quite a few problems where I’d remember the names of the components in a FSA formula for calculating certain things, but then can’t find the right subcomponents when reading the actual B/S and I/S.
Can anyone help me figure out what is actually in:
1) Current Asset
2) Current Liability
3) Non-cash Asset
4) Non-cash Liability
5) Net Operating Income
6) Operating Asset
6) Operating Liability
Is inventory current or non/current, considered cash or non-cash component?
Thanks!!!

stockjaguar

I suggest you go back to L1 material and read up on this stuff. Inventory is current & non-cash.

Sunshine4ever

1) Current Asset
Cash & Cash Equivalents, Accounts Receivable, Inventory, Prepaid Expenses, Other Current Assets
2) Current Liability
Accounts Payable, Accrued Expenses, Unearned Revenues, Current Portion of Long Term Debt
Not sure how these are different from 6 & 7
5) Net Operating Income
Earnings Before Taxes & Interest = Sales - COGS - SG&A - Depreciation
6) Operating Asset
Total Assets - Cash
7) Operating Liability
Total Liabilities - Total Debt

lunarfollies

Thanks everyone. Guess I should have taken an accounting 101 course back in college…

segalm

Oops, is the monetary asset and monetary liability (used in calculating exposure in temporal method) the same as current asset and current liability???

eoin

no, monetary assets are things w/ monetary value, such as cash equivalents, if you buy a building for your company thats not a monetary asset, pp&e isn’t monetary assets i’m pretty sure.