Cash. Buildings 1.3. Prepaid expenses For example, the debt can be to an unrelated third party, such as a bank, or to employees for wages earned but not yet paid. The following are common examples. Any other liquid assets; Additional Reading: Get the List of Non Current Assets. The following are the examples of non-current assets that are part of a balance sheet. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. 20 Examples Of Assets posted by John Spacey, February 11, 2017. Examples of non-current assets include land, property, investments in other companies, machinery and equipment. Non-current assets, on the other hand, are resources that are expected to have future value or usefulness beyond the current accounting period. From an … Long-term investments: These investments are assets held by the company, such as bonds, stocks, or notes. Examples of Noncurrent Assets. Non-current asset appears in the balance sheet of the company. Examples of non-current assets include: Tangible and intangible fixed assets – these fixed assets are utilized in revenue generating activities of the business. Goodwill usually results from taking over another business or acquiring their assets. The examples of prepaid expenses are advertising contracts, insurance, and rents, etc. Some examples are accounts payable, payroll liabilities, and notes payable. Apple Inc.’s non-current assets decreased from 2018 to 2019 but then slightly increased from 2019 to 2020. You may learn more about accounting from the following articles – Is Inventory a Current Asset? Non-current assets are assets which represent a longer-term investment and cannot be converted into cash quickly. Equipment 1.6. Netflix Inc.’s property and equipment, net increased from 2017 to 2018 and from 2018 to 2019. It shows "Other liabilities" of $10,241,000,000 for the year that ended Dec. 31, 2015. Intangible assets are those assets that cannot be physically touched … Non-current assets ASSETS Total; Current Assets: Cash and Cash Equivalents : Cash on Hand: $ 18,449.64: Cash in Bank: 3,969,743.36: Cash in Transit/Reimburse from Treasury Ownership: Assets represent ownership that can be eventually turned into cash and cash equivalents. Other assets are a grouping of accounts that are listed as a separate line item in the assets section of the balance sheet. Non-current assets: Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold or consumed after one year or beyond the normal operating cycle, if longer. Long-term investments. As with assets, these claims record as current or noncurrent. Noncurrent assets are not as liquid as current assets and are not held with the intention of selling in the short term. (b) Explain the valuation of the following: (i) Land: (ii) Buildings (iii) Plant and machinery and other non current assets. Other non-current liabilities Typically, other non-current liabilities can be described as a group of long-term liabilities that cannot be explicitly identified under non-current liabilities. One example can be an insurance policy, which is an asset because it provides benefits to the company, but will be used up after the year of coverage expires. The non-current assets formula is the same as the current assets formula, where tangible assets, such as fixed assets like property, plants, equipment, land, buildings, long-term investments and intangible assets like goodwill, patents, trademarks, copyrights are added together. Resources that are expected to be consumed within the current period are classified as current assets while resources that expected to be used in future periods are called non-current assets. Other Non-Current Assets . Intangible Assets 4. Furniture 1.5. Non-current Assets. Petty cash. This line item contains minor assets that do not naturally fit into any of the main asset categories. Cash is the most liquid asset of an entity and thus is important for the short-term solvency of … Brands 2.2. Examples of current assets include cash and cash equivalents, trade and other receivables, inventories, and financial assets (with short maturities). Non-current assetsinclude items such as: 1. Intangible assets: These assets lack a physical presence (you can’t touch or feel them). Bond issuance costs. Therefore, the non-current assets are also referred to as long-term assets. Patents, trademarks, and goodwill classify as noncurrent assets. In other words, the company capitalises the cost of the assets or investment for a long time or many years, rather than evaluating it within the year of purchase of the asset. List of Non-Current Assets: vehicles. As the name suggest this class of non-current asset includes but not limited to: property like land, building or other kind of premises etc; plant like production plant, machinery etc; equipment like office equipment etc; These non-current assets are tangible in nature and are usually fixed in nature thus the name fixed asset. Some examples of non-current assets include property, plant, and equipment. NON CURRENT ASSETS 1. Noncurrent assets are reported under the following balance sheet headings: Investments (long-term) Property, plant and equipment; Intangible assets; Other assets; Examples of Noncurrent Assets. Scroll down to page 31, the Consolidated Balance Sheet section. Resource: Assets are resources that can be used to generate future economic benefits (b) Non-Current Liabilities (or Fixed Liabilities): This article has been a guide to Other Current Assets and its definition. Intangible Assets: 2.1. 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