Assets
Assets = What business owns
Like liabilities, assets are divided into Current and Non-current. Current and Non-current assets are defined the same as liabilities.
Current Assets
Operating Cycle = time between acquisition of assets for processing and their realisation in cash or cash equivalents
Trade receivables within operating cycle = Current Assets
Cash and cash equivalents = Current Assets
Inventory = Current Assets
Non-Current Assets
Anything which is not intended to cash within the operating cycle or 12 months is called Non-Current Assets
Fixed assets - Asset held by the company not for purpose of sale but for earning
Fixed assets can be tangible and intangible assets
Tangible - anything which has physical existence - e.g building, plant, vehicles, machinery etc
Intangible - don't have physical existence - e.g License,patents,trademark,goodwill,software etc
Everything has a lifetime, therefore we need to set aside an amount to renew or repurchase assets. When you set aside amount for tangible assets - Depreciation and when you do for intangible assets - Amortization
Capital WIP - Like building in the construction phase etc
Intangible assets under development - Research and development
Non-Current Investments
These are investments not for resell but to retain them. This generates a return on Investment.
These include other company's shares, bonds, government securities, mutual funds, ETF etc.
Loans and Advances
When a company lends loans to other companies and it is realized more than 12 months. It is called Loans and advances.
I think these articles give you some primer to Annual financial statements.If you want to dip deeper , practice reading financial statements in real companies.