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Mary Buffett

“Current assets are also referred to as the “working assets” of the business because they are in the cycle of cash going to buy inventory; Inventory is then sold to vendors and becomes Accounts Receivable. Accounts Receivable, when collected from the vendors, then turns back into Cash. Cash → Inventory → Accounts Receivable → Cash. This cycle repeats itself over and over again, and it is how a business makes money.”

Mary Buffett, Warren Buffett and the Interpretation of Financial Statements: The Search for the Company with a Durable Competitive Advantage
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Warren Buffett and the Interpretation of Financial Statements: The Search for the Company with a Durable Competitive Advantage Warren Buffett and the Interpretation of Financial Statements: The Search for the Company with a Durable Competitive Advantage by Mary Buffett
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