What is the difference between current asset and non current?

whether the assets are expected to be used up in the course of a normal operating cycle - usually 1 year, but can sometimes differ depending on the circumstances. So thinking about it - cash, inventory, etc. are current, while PPE, long term loans, etc. are non-current. Same goes for liabilities - which is why you get the "current portion of long term debt" on financials - this is the amount that is due in the current year.