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. 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
• Intangible assets such as copyrights and patents
• Land
• Machinery
• Vehicles
• Tools
• Computer equipment
• Intellectual property
• Goodwill

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. Non-current assets are recorded at their purchase price and then presented net of depreciation or amortization (book value) at each subsequent period, until the asset is either fully depreciated or disposed of.