Normally, cash is considered a current asset because it can be used within one year after the balance sheet date.

However, in certain situations, cash may be classified as a non-current asset.

For

example, if a company has restricted cash in a bank account (ie cash that can't be used), and restriction is for more than one year after the balance sheet date, then, this cash is considered non-current.

Accounts receivable are amounts expected to be collected from customers. Usually, collection is within one year, and thus, accounts receivable are considered a current asset.

Prepaid expenses (eg prepaid insurance premiums) are usually used within a year after the balance sheet date and thus, are considered a current asset. However, if a company paid a premium for two years as of the balance sheet date, then, one half (one year) of the prepaid expenses balance will be current and the other half (another year) will be non-current.

Fixed assets are used (depreciated) by a company for more than a year, and thus, they are considered non-current.

Similar to fixed assets, intangibles are used (amortized) by a company for more than a year, and thus, they are considered non-current.

Notes receivable that are not expected to be collected until after one year after the balance sheet date are considered long-term. Note, however, that there are some notes that have a maturity date within a year after the balance sheet date: such notes are classified as current (short-term).

Accounts payables are obligations of a company to vendors, suppliers, etc. Such obligations are normally settled with current assets (eg cash), and thus, they are considered current liabilities.

Accrued expenses may include accrued (ie incurred but not paid) utility charges, insurance payments, and others. Such accrued expenses are usually paid within a year after the balance sheet date, and therefore, they are considered current liabilities.

A bank loan that has a maturity date after one year from the balance sheet date is not going to be paid with current assets, and therefore, it is considered a non-current liability. However, if a portion of the loan is due within one year after the balance sheet date, that portion is classified as current liability on the balance sheet and is excluded from the non-current portion of the loan.