An entity shall classify an asset as current when:

1. it expects to realise the asset or intends to sell or consume it in its normal operating cycle;
2. it holds the asset primarily for the purpose of trading;
3. it expects to realise the asset within twelve months after the reporting period; or
4. the asset is cash or a cash equivalent (as defined in IAS 7) unless the asset is restricted from being exchanged or used to settle a liability for at least twelve months after the reporting period.

An entity shall classify all other assets as non-current.

(According to International Accounting Standards IAS 1)