I'm given a table that shows various accounts and I have to group them in order of liquidity based on GAAP and IFRS guidelines; the categories in which I must place each account are in Current Assets and non-current assets.

From my understanding, current assets are those that will be converted to cash within a year; businesses usually hold non-current assets more than a year.

Here's my logic below for how I would arrange the accounts; I need help in verifying whether the way I ordered the accounts is correct and if not then why.

For GAAP, I know that the accounts are arranged from the ones that are most liquid to least liquid. For each category, here's how I order them.

Current Assets

1. Cash
2. Accounts Receivable
3. Prepaid expenses
4. Inventory
5. Other current assets

Non current Assets

1. PP&E property plant equipment
2. Other non current assets.

IFRS

(here's where I'm confused; I'm not sure how I should order these accounts. My guess is that

Should order them from the assets that are the least liquid (first) to the ones that are the most liquid (last).

Non current assets

1. Other non-current assets
2. PP&E

Current assets:

1. Other current assets
2. Inventory
3. Prepaid expenses
4. Accounts Receivable
5. Cash