3 days ago · By PATRICK ALUSHULAMore by this Author. Kenyans traced and recovered Sh4.5 billion in cash from the Unclaimed Financial Assets Authority (UFAA) in the year ended June 2023 on increased campaign by

Financial assets get their value from a contractual right and do not necessarily have a physical worth. There are two types of financial assets including current or non-current assets. The common types of financial assets are bank deposits, cash, and cash equivalents, loans, receivables, derivatives, etc. Different types of financial assets are
Key Takeaways. Liquid assets, which are the current assets of the business, are easily and rapidly converted to cash without loss of any of their market value. The usual types of liquid assets on the balance sheet are cash, accounts receivable, marketable securities, and inventory. Checking and savings accounts are also considered liquid assets.
Personal assets are anything belonging to an individual or household that can provide current or future financial value. They include everything from real estate to cash to investment accounts. They’re typically used to help measure a person’s wealth and can be helpful when applying for a loan or planning for retirement .
cheques, postal orders) and/or physical cash (notes and coins) - is a financial asset. • For an asset to be a financial asset, the transaction must be settled through the receipt of cash or another financial asset and not through the receipt of goods or services. Paragraph 2.1, and AG2.1 What is the definition of a financial liability? Cash accounting is an accounting method in which payment receipts are recorded during the period they are received, and expenses are recorded in the period in which they are actually paid. In
Cash and cash equivalents is a line item on the balance sheet, stating the amount of all cash or other assets that are readily convertible into cash. Any items falling within this definition are classified within the current assets category in the balance sheet. The two primary criteria for classification as a cash equivalent are that an asset
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    • is cash a financial asset