Explanation:

Non-current assets are assets which represent a longer-term investment and cannot be converted into cash quickly. They are likely to be held by a company for more than a year.

Examples of non-current assets include land, property, investments in other companies, machinery and equipment. Intangible assets such as patents, branding, trademarks, intellectual property and goodwill would also be considered non-current assets.

The cost of non-current assets is often spread over the length of time for which the asset will be in use, rather than allocating the full cost to the year in which the asset was acquired.