{"id":3759,"date":"2020-10-22T19:11:54","date_gmt":"2020-10-22T19:11:54","guid":{"rendered":"https:\/\/courses.lumenlearning.com\/wm-financialaccounting\/?post_type=chapter&#038;p=3759"},"modified":"2020-11-24T22:07:35","modified_gmt":"2020-11-24T22:07:35","slug":"introduction-to-other-current-and-noncurrent-assets","status":"publish","type":"chapter","link":"https:\/\/courses.lumenlearning.com\/suny-clinton-financialaccounting\/chapter\/introduction-to-other-current-and-noncurrent-assets\/","title":{"raw":"Introduction to Other Current and Noncurrent Assets","rendered":"Introduction to Other Current and Noncurrent Assets"},"content":{"raw":"<h2>What you will learn to do: Account for other current and noncurrent assets<\/h2>\r\nLet\u2019s do a quick review. Current assets we\u2019ve covered so far include:\r\n<ul>\r\n \t<li style=\"font-weight: 400;\">Cash and cash equivalents<\/li>\r\n \t<li style=\"font-weight: 400;\">Accounts Receivable<\/li>\r\n \t<li style=\"font-weight: 400;\">Inventories<\/li>\r\n<\/ul>\r\n<img class=\"alignright wp-image-4760 \" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/5107\/2020\/10\/30214435\/save-4666418_1920-1024x683.jpg\" alt=\"Three jars full of coins.\" width=\"400\" height=\"267\" \/>Noncurrent assets we\u2019ve covered so far include:\r\n<ul>\r\n \t<li style=\"font-weight: 400;\">Property, plant and equipment<\/li>\r\n \t<li style=\"font-weight: 400;\">Natural Resources<\/li>\r\n \t<li style=\"font-weight: 400;\">Intangibles such as goodwill and patents<\/li>\r\n<\/ul>\r\nThe remaining list of other common current and noncurrent assets will obviously be different from company to company. However, there are some common items, such as:\r\n<ul>\r\n \t<li style=\"font-weight: 400;\">Long-term investments in other companies (and related short-term investments)<\/li>\r\n \t<li style=\"font-weight: 400;\">Notes receivable<\/li>\r\n \t<li style=\"font-weight: 400;\">Operating lease right-of-use assets<\/li>\r\n<\/ul>\r\nIn your career as an accountant, as you run into specific items such as other receivables, deferred taxes, and various prepaid expenses, you\u2019ll find the theories you have learned as you have studied these other major categories of assets will help you understand the FASB pronouncements that you find in your research.","rendered":"<h2>What you will learn to do: Account for other current and noncurrent assets<\/h2>\n<p>Let\u2019s do a quick review. Current assets we\u2019ve covered so far include:<\/p>\n<ul>\n<li style=\"font-weight: 400;\">Cash and cash equivalents<\/li>\n<li style=\"font-weight: 400;\">Accounts Receivable<\/li>\n<li style=\"font-weight: 400;\">Inventories<\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignright wp-image-4760\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/5107\/2020\/10\/30214435\/save-4666418_1920-1024x683.jpg\" alt=\"Three jars full of coins.\" width=\"400\" height=\"267\" \/>Noncurrent assets we\u2019ve covered so far include:<\/p>\n<ul>\n<li style=\"font-weight: 400;\">Property, plant and equipment<\/li>\n<li style=\"font-weight: 400;\">Natural Resources<\/li>\n<li style=\"font-weight: 400;\">Intangibles such as goodwill and patents<\/li>\n<\/ul>\n<p>The remaining list of other common current and noncurrent assets will obviously be different from company to company. However, there are some common items, such as:<\/p>\n<ul>\n<li style=\"font-weight: 400;\">Long-term investments in other companies (and related short-term investments)<\/li>\n<li style=\"font-weight: 400;\">Notes receivable<\/li>\n<li style=\"font-weight: 400;\">Operating lease right-of-use assets<\/li>\n<\/ul>\n<p>In your career as an accountant, as you run into specific items such as other receivables, deferred taxes, and various prepaid expenses, you\u2019ll find the theories you have learned as you have studied these other major categories of assets will help you understand the FASB pronouncements that you find in your research.<\/p>\n\n\t\t\t <section class=\"citations-section\" role=\"contentinfo\">\n\t\t\t <h3>Candela Citations<\/h3>\n\t\t\t\t\t <div>\n\t\t\t\t\t\t <div id=\"citation-list-3759\">\n\t\t\t\t\t\t\t <div class=\"licensing\"><div class=\"license-attribution-dropdown-subheading\">CC licensed content, Original<\/div><ul class=\"citation-list\"><li>Introduction to Other Current and Noncurrent Assets. <strong>Authored by<\/strong>: Joseph Cooke. <strong>Provided by<\/strong>: Lumen Learning. <strong>License<\/strong>: <em><a target=\"_blank\" rel=\"license\" href=\"https:\/\/creativecommons.org\/licenses\/by\/4.0\/\">CC BY: Attribution<\/a><\/em><\/li><\/ul><div class=\"license-attribution-dropdown-subheading\">CC licensed content, Shared previously<\/div><ul class=\"citation-list\"><li><strong>Authored by<\/strong>: Franz W. . <strong>Located at<\/strong>: <a target=\"_blank\" href=\"https:\/\/pixabay.com\/photos\/save-coins-currency-cash-euro-4666418\/\">https:\/\/pixabay.com\/photos\/save-coins-currency-cash-euro-4666418\/<\/a>. <strong>License<\/strong>: <em><a target=\"_blank\" rel=\"license\" href=\"https:\/\/creativecommons.org\/about\/cc0\">CC0: No Rights Reserved<\/a><\/em>. <strong>License Terms<\/strong>: https:\/\/pixabay.com\/service\/terms\/#license<\/li><\/ul><\/div>\n\t\t\t\t\t\t <\/div>\n\t\t\t\t\t <\/div>\n\t\t\t <\/section>","protected":false},"author":90270,"menu_order":12,"template":"","meta":{"_candela_citation":"[{\"type\":\"original\",\"description\":\"Introduction to Other Current and Noncurrent Assets\",\"author\":\"Joseph Cooke\",\"organization\":\"Lumen Learning\",\"url\":\"\",\"project\":\"\",\"license\":\"cc-by\",\"license_terms\":\"\"},{\"type\":\"cc\",\"description\":\"\",\"author\":\"Franz W. \",\"organization\":\"\",\"url\":\"https:\/\/pixabay.com\/photos\/save-coins-currency-cash-euro-4666418\/\",\"project\":\"\",\"license\":\"cc0\",\"license_terms\":\"https:\/\/pixabay.com\/service\/terms\/#license\"}]","CANDELA_OUTCOMES_GUID":"","pb_show_title":"on","pb_short_title":"","pb_subtitle":"","pb_authors":[],"pb_section_license":""},"chapter-type":[],"contributor":[],"license":[],"class_list":["post-3759","chapter","type-chapter","status-publish","hentry"],"part":792,"_links":{"self":[{"href":"https:\/\/courses.lumenlearning.com\/suny-clinton-financialaccounting\/wp-json\/pressbooks\/v2\/chapters\/3759","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/courses.lumenlearning.com\/suny-clinton-financialaccounting\/wp-json\/pressbooks\/v2\/chapters"}],"about":[{"href":"https:\/\/courses.lumenlearning.com\/suny-clinton-financialaccounting\/wp-json\/wp\/v2\/types\/chapter"}],"author":[{"embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/suny-clinton-financialaccounting\/wp-json\/wp\/v2\/users\/90270"}],"version-history":[{"count":4,"href":"https:\/\/courses.lumenlearning.com\/suny-clinton-financialaccounting\/wp-json\/pressbooks\/v2\/chapters\/3759\/revisions"}],"predecessor-version":[{"id":6586,"href":"https:\/\/courses.lumenlearning.com\/suny-clinton-financialaccounting\/wp-json\/pressbooks\/v2\/chapters\/3759\/revisions\/6586"}],"part":[{"href":"https:\/\/courses.lumenlearning.com\/suny-clinton-financialaccounting\/wp-json\/pressbooks\/v2\/parts\/792"}],"metadata":[{"href":"https:\/\/courses.lumenlearning.com\/suny-clinton-financialaccounting\/wp-json\/pressbooks\/v2\/chapters\/3759\/metadata\/"}],"wp:attachment":[{"href":"https:\/\/courses.lumenlearning.com\/suny-clinton-financialaccounting\/wp-json\/wp\/v2\/media?parent=3759"}],"wp:term":[{"taxonomy":"chapter-type","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/suny-clinton-financialaccounting\/wp-json\/pressbooks\/v2\/chapter-type?post=3759"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/suny-clinton-financialaccounting\/wp-json\/wp\/v2\/contributor?post=3759"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/suny-clinton-financialaccounting\/wp-json\/wp\/v2\/license?post=3759"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}