what is non current assets

Non-current assets are assets and property owned by a business that are not easily converted to cash within a year. They are also known as long-term assets, as they have a useful life of more than a year. Non-current assets are expected to help generate income and are for long-term use by the business. Examples of non-current assets include long-term investments such as bonds and stocks, fixed assets such as property, plant, and equipment (PP&E), and intangible assets such as copyrights and patents. Non-current assets are capitalized instead of being expensed like current assets. Rather than listing the asset as an expense on the income statement, the asset is added to the company’s balance sheet and depreciated over its useful life.