How does IAS 1 define the operating cycle of an entity?
举一反三
- 中国大学MOOC: How does IAS 1 define the operating cycle of an entity?
- 中国大学MOOC: How does the Conceptual Framework define an asset?
- Liabilities that are required to be paid within a year are classified as current liabilities. If the normal operating cycle is longer than a year, liabilities that are required to be paid during the normal operating cycle are classified as current liabilities.
- The business entity principle means that a business will continue operating for an indefinite period of time.
- Which of the following types of businesses would normally have the shortest operating cycle?