SOFP which order do liablites go in if any please?

topcat
topcat Registered Posts: 452
in AAT Level 3 (Level 6 in Scotland)
Would appreciated any help on above question..

just to check assets go in the following order:

Inventory
Receivables
Prepayments
Bank
Cash

??

Thank you :001_smile:

Comments

  • Bluewednesday
    Bluewednesday Registered Posts: 1,624
    They go in order of liquidity, if you think of it like that from the most difficult to the easiest to convert into hard cash!
  • topcat
    topcat Registered Posts: 452
    Bluewednesday wrote: »
    They go in order of liquidity, if you think of it like that from the most difficult to the easiest to convert into hard cash!

    Did not even realize liabilities has to be in this order so thank you for this!

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