REGULATIONS CONCERNING TERMINOLOGY, FORMS AND METHODS OF PREPARATION OF FINANCIAL STATEMENTS, ETC. Copyright Roderick Seeman

Article 17. Indications of Current Assets Sections Assets which come under current assets must be entered via a subject to which is attached a name showing the said asset, in accord with the division of items listed hereinafter. However, concerning goods which are byproducts, semifinished work and goods in transit, or products or finished goods which are raw materials or consignments, or semifinished goods which the value therefor exceeds one percent of total assets, they must be entered separately via a subject with the name of the said assets.

i. Cash on hand and in banks

ii. Notes receivable trade

iii. Accounts receivable trade

iv. Securities

vi. Finished goods (including byproducts and work refuse)

vii. Semifinished goods (including parts made in-company)

viii. Raw materials (including purchased parts)

ix. Work in process (including semifinished work)

x. Supplies (including supplementary materials)

xi. Advance payments

xii. Prepaid expenses

xiii. Others

2. The provisions of the previous Paragraph do not bar the separate entry via a subject with the name of the said asset, concerning assets which fall under one of the headings of the Items of the said Paragraph for which it is deemed appropriate to indicate them separately.

3. In those situations where it is deemed that it is difficult to include parts produced in-house in the semifinished goods heading in the divisions in Paragraph 1, regardless of the divisions of the same Paragraph, it is possible to include and classify the said assets under the raw materials heading.

4. In those situations where it is deemed that it is difficult to include purchased parts in the raw materials heading in the divisions in Paragraph 1, regardless of the divisions of the same Paragraph, it is possible to include and classify the said assets under the semifinished goods heading.