Non‐current Assets

This chapter discusses the treatment of assets that will generate economic benefits for the entity for a period beyond the duration of a single operating cycle and are called “non-current assets.” It distinguishes them from current assets such as inventory and receivables. Additionally, non-current assets can be analyzed according to various criteria. The nature of assets is usually the first criterion used in both the balance sheet presentation and in accounting standards. Thus, one can distinguish intangible assets, which are assets without physical substance and non-monetary and tangible assets, which are physical assets. Furthermore, non-current financial assets are monetary values. This chapter mainly classifies the nature and presents, first, the intangible and tangible assets and, second, the financial assets. The criterion of useful life is addressed in each of the two sections.