| Current Assets in the Balance Sheet – US and UK Formats | |
| Common US Format | Common UK Format |
| Current Assets (1) | Current Assets (1) |
| Cash and Cash Equivalents (2) | Stocks (5) |
| Short-Term Investments (3) | Debtors (4) |
| Receivables, Net (4) | Investments (3) |
| Inventories (5) | Cash at Bank and in Hand (2) |
| Accrued Income (6) | Prepayments (7) and Accrued Income (6) |
| Prepaid Expense (7) | |
An asset that a company acquires for continued use in operations or possession and not for resale and, if a limited-life asset, is expected to be consumed or converted into cash in the normal course of an entity’s activities only after the following accounting period is a noncurrent asset. The noncurrent assets in a balance sheet include property, plant and equipment, financial leases, investments, intangible assets and other assets.
| Noncurrent Assets in the Balance Sheet – Common US and UK Formats | |
| Common US Format | Common UK Format |
| Noncurrent Assets (1) | Fixed Assets (1) |
| Property, Plant and Equipment (2) | Tangible Assets (2) |
| Investments (3) | Investments (3) |
| Intangible Assets (4) | Intangible Assets (4) |
| Other Assets (5) | Other Fixed Assets (5) |