Accounting

Chapter 4 : Account Titles and Preparation of Financial Statements | Article 14 : The balance sheet items shallbe categorized as follows: 1. Assets. (1) Current assets. (2) Funds and long-term investments. (3) Property, plant and equipment. (4) Depletable assets. (5) Intangible assets. (6) Other assets. 2. Liabilities. Article 15 : Current assets mean unrestricted cash and cash equivalent, short-term investments, and other assets that are convertible to cash or expended within one year. Categorization and evaluation of current asset titles along with required explanatory notes are as follows: 1. Cash and Cash equivalent: cash on hand, deposits with banks, cash for revolving use, petty cash, and short-term and highly liquid investment that can be converted into a fixed amount of cash with interest fluctuation having small impact thereon, excluding those already set aside for use or restricted by law or contract; the account nature and required notes are as follows: (1) Non-demand-deposits with maturity over a year shall be specified. (2) Time deposits (including negotiable certificates of deposit) shall be reclassified as other assets if provided as lien for a long-term liability or as other current liabilities if provided as lien for a current liability,