Print. The talus is a small bone that sits between the heel bone (calcaneus) and the two bones of the lower leg (the tibia and fibula). It has an irregular, humped shape like a turtle's shell. The bones of the lower leg ride on top and around the sides to form the ankle joint.
Notice the building was purchased using borrowed money. Although, the bank loan was used to buy the building, it's still considered an asset of The Toy Company. Our point is this, DON'T think of an asset (current or fixed) as something a business owns. Rather, view an asset as a resource that can be used to strengthen a business. Although, The Toy Company doesn't really own the building, it's still considered the company's fixed asset.
Non-Current Assets. Non-current assets are assets other than the current assets. While current assets are assets which are expected to be converted to cash within the next 12 months or within normal operating cycle of a business.In other words, these are assets which are expected to generate economic benefits over more than one year.Classification of assets into current and non-current is important because non-current assets are illiquid, i.e. they cannot be easily converted to cash or cash equivalents.on-current assets are assets other than the current assets. While current assets are assets which are expected to be converted to cash within the next 12 months or within normal operating cycle of a business. In other words, these are assets which are expected to generate economic benefits over more than one year.