Other Current Assets - OCA What are 'Other Current Assets - OCA' Other current assets (OCA) is a category of a firm's assets that does not include cash, securities, receivables, inventory and prepaid assets, and can be convertible into cash within one business cycle, which is usually one year. The OCA account is listed on a firm's balance sheet and is a component of a firm's total assets. • Cash • Accounts receivable • Inventories • Notes receivables • Prepaid expenses • Cash and equivalents: This includes the company's cash in bank accounts, received but undeposited checks, savings and money market accounts, and liquid investments such as Treasury bills. • Accounts Receivable: This includes payments not yet received from customers for sales made on credit terms. • Inventories : For non-service companies, this account contains components that haven't yet been converted into products and finished goods that haven't yet been sold to customers. • Notes Receivable: These are debts owed to the company, payable within one year. The remaining portion of the note, if longer than one year, resides in the long-term assets section of the balance sheet • Prepaid Expenses Accounts : In the course of everyday operating activities, many firms pay for goods or services before they actually receive delivery of them. This includes items like employee labor, which the company records into a prepaid salaries account until it cuts paychecks.
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