current or non current asset?

TaxPros,

Need some guidance-

Original Long term CD matured and got renewed to a 6 month CD.
How do you report the CD on the financials the next month? As a current or non-current asset?

If you can provide a link to official guidance or some key words I can search that would be great.

Thank you!

It's definitely a current asset. Even a multi-year CD would be a current asset. It can be converted to cash immediately and unilaterally. There may be a small cost to this conversion, but it does not need a sales transaction to be converted into cash.

There is ASC 210-xx-xx, 230-xx-xx, & 305-xx-xx. Also, AICPA TIS 2130.39.