Non-current assets
A non-current asset is an asset not classified as current, typically used or held beyond the operating cycle. Property used in operations, long-term investments and eligible intangible assets may be non-current. Current classification considers the normal operating cycle, trading purpose, expected realisation within twelve months and the applicable cash criteria. The remaining assets are non-current. A non-current classification does not imply the asset will never be sold or replaced.
Worked example
A machine used in production over several years is non-current.
Common mistake
Classification depends on current-asset criteria, not simply whether the asset has already been held for a year.
Where it appears in your exams
| Qualification | Exam | Relationship | Period |
|---|---|---|---|
| ACCA | F1 | Direct | July 2027–August 2028 |
| ACCA | F2 | Supporting | July 2027–August 2028 |
| ACCA | FA | Direct | September 2026–June 2027 |
| ACCA | K1 | Direct | July 2027–August 2028 |
| FIA | FFA | Direct | September 2026–June 2027 |
