A non-monetary asset is an asset owned by a company that does not have an accurate dollar value and cannot be easily converted into cash or cash equivalents.
Companies classify non-monetary assets as tangible assets or intangible assets.
Examples of non-monetary assets that are considered tangible are company property, plants, equipment, and inventories.
Examples of non-monetary assets that are considered intangible are a company’s intellectual property such as its patents, copyrights, and trademarks.
In contrast, monetary assets can be easily converted into cash or cash equivalents for a fixed or well-defined amount of money.