Short-term deposits, also known as time deposits or certificates of deposit (CDs), are typically classified as cash equivalents under US GAAP, specifically according to ASC 230-10-25-15. To qualify as a cash equivalent, an investment must have a short maturity, usually three months or less from the date of acquisition, and be readily convertible to a known amount of cash with minimal risk of changes in value. If these criteria are met, short-term deposits would be included in the balance sheet under the cash and cash equivalents category.