Is Office Furniture a Current Asset?

Written by True Tamplin, BSc, CEPF®

Updated on January 02, 2023

No, office furniture is not a current asset. A current asset is any asset that will provide an economic value for or within one year. Office furniture is expected to have a useful life longer than one year, so it is recorded as a non-current asset.

Is Office Furniture a Current Asset FAQs

Is office furniture considered a current asset?

No, office furniture is not a current asset.

What is a current asset?

A current asset is any asset that will provide an economic value for or within one year.

Why wouldn't office furniture be considered a current asset?

Office furniture is expected to have a useful life longer than one year, so it is recorded as a non-current asset.

What is a non-current asset?

A non-current asset is an asset that will provide an economic benefit after or for longer than one year.

About the Author

True Tamplin, BSc, CEPF®

True Tamplin is a published author, public speaker, CEO of UpDigital, and founder of Finance Strategists.

True is a Certified Educator in Personal Finance (CEPF®), author of The Handy Financial Ratios Guide, a member of the Society for Advancing Business Editing and Writing, contributes to his financial education site, Finance Strategists, and has spoken to various financial communities such as the CFA Institute, as well as university students like his Alma mater, Biola University, where he received a bachelor of science in business and data analytics.

To learn more about True, visit his personal website, view his author profile on Amazon, or check out his speaker profile on the CFA Institute website.