{"id":271752,"date":"2023-12-20T11:29:19","date_gmt":"2023-12-19T23:29:19","guid":{"rendered":"https:\/\/www.reckon.com\/au\/?page_id=271752"},"modified":"2024-10-04T13:26:38","modified_gmt":"2024-10-04T01:26:38","slug":"non-current-assets","status":"publish","type":"glo","link":"https:\/\/www.reckon.com\/au\/glossary\/non-current-assets\/","title":{"rendered":"What are non-current assets?"},"content":{"rendered":"

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Non-current assets are assets that are held long-term by a business. They are used in the creation of revenue.<\/p>\n

When successfully monitoring and understanding your business’s financial performance<\/a> and performing successful accounting<\/a> understanding the concept of non-current assets is highly useful.<\/p>\n

Non-current assets (definition)<\/h2>\n

Non-current assets (also known as long-term or fixed assets<\/a>) refer to assets held by a business that are expected to be long-term in nature, usually defined as having a useful life of more than 12 months. Non-current assets should also be utilised in the long-term production of revenue and profits<\/a>. They are not meant to be quickly converted into cash<\/a>.<\/p>\n

Non-current assets examples<\/h2>\n

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Examples of non-current assets include tangible assets and intangible assets such as:<\/p>\n