The document discusses the importance of accurately identifying current and noncurrent assets on a company balance sheet for businesses. Current assets have a lifespan of less than one year and include liquid assets like accounts receivable, while noncurrent assets last longer and include tangible and intangible assets critical for long-term success. Additionally, it mentions the expansion of a development in Thousand Oaks, which will add significant retail space to the area.

1. Accounting 101 -
Current vs.
Noncurrent Assets
By Cecilia Ibru

2. For businesses of all
sizes, accurately listing
all assets on the
company balance sheet
is a major accounting
priority. To accomplish
this, it is important to
understand the
difference between
current and noncurrent
assets.

3. Location and Expansion
Located at 1015-1025 Broadbeck Drive in
Thousand Oaks, the development spans
over 23,000 square feet.
Built in 2001, the development is part of a
larger power center.
An adjacent expansion will soon add
approximately 170,000 square feet of new
big box development, bringing a Lowe’s and
an LA Fitness to the area.

4. Current Assets
Current assets generally feature a lifespan of
less than one year.
These assets often consist of asset classes
like accounts receivable, which are highly
liquid and can be easily converted to cash.
Current assets may also include cash
equivalents, such as U.S. Treasury bills, and
inventory assets, such as raw materials and
work-in-progress goods.

5. Noncurrent Assets
Noncurrent assets usually have a lifespan of
more than a year and cannot be converted
to cash as readily as current assets.
Examples of noncurrent assets include
tangible assets, such as machinery and real
estate, as well as intangible assets, such as
intellectual property.
Because noncurrent assets often prove
critical to the success of a company, they
are also referred to as long-term assets.