No, intangible assets are not considered current assets for accounting purposes as their economic benefit almost always extends beyond 1 year.
Current assets are any assets that can be converted into cash within a period of one year. This counts products that are sold for cash as well as resources that are consumed, used, or exhausted through regular business operations that are expected to provide a cash value return within a single year.
Only tangible assets can be counted as current. Intangible assets such as trademarks, copyrights, intellectual property, and goodwill are not able to be converted easily into cash within a year, even if they still provide a company with economic value.
Examples of intangible assets are:
- Franchise License