AASB 18 Presentation and Disclosure in Financial Statements 99-102: Classify assets and liabilities as current only on the four criteria for each, and everything else as non-current

What does 99-102 require?

An asset is current when the entity expects to realise, sell or consume it during its normal operating cycle, holds it mainly for trading, expects to realise it within the twelve months following the period end, or it is unrestricted cash or a cash equivalent (restricted meaning barred from use for at least twelve months); all other assets are non-current. A liability is current when the entity expects to settle it in its normal operating cycle, holds it mainly for trading, it falls due within the twelve months following the period end, or the entity lacks the right at the reporting date to put off settlement for at least twelve months; all other liabilities are non-current. The application guidance governs covenants, refinancing and rights to defer.