A small quantity of money -- one no good's taking it (8)

I believe the answer is:

assuming

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'taking it' is the definition.
I can't tell whether this definition defines the answer.

'a small quantity of money one no good's' is the wordplay.
'small' becomes 's' (abbreviation - e.g. clothes size).
'quantity of money' becomes 'sum' (I've seen this before).
'one' becomes 'i' (roman numeral).
'no' becomes 'n' (common abbreviation).
'good' becomes 'g' (abbreviation).
'a'+'s'+'sum'+'i'+'n'+'g'='ASSUMING'

Can you help me to learn more?

(Other definitions for assuming that I've seen before include "Taking for granted" , "Based on the supposition" , "Taking as true" , "Taking on - arrogant" , "Presumptuous, arrogant" .)

I've seen this clue in The Telegraph.

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