Non-current assets are long-term resources owned by a business that are not expected to be converted into cash within a year. These assets typically include items like property, equipment, and vehicles, which are essential for the company's operations and growth. They are recorded on the balance sheet and are usually depreciated over time to reflect their decreasing value. Unlike current assets, which are short-term and can be quickly turned into cash, non-current assets provide value over several years. Businesses invest in these assets to support their operations and generate revenue, making them crucial for long-term financial stability and success.