Fixed assets are a company's tangible, noncurrent assets that are used in its business operations. A common example of fixed assets is a manufacturer's plant assets such as its buildings and equipment.
The word fixed indicates that these assets will not be used up or consumed or sold in the current accounting year.
The amount of a company's fixed assets is reported in the noncurrent (or long-term) asset section of the balance sheet under the header Property, plant and equipment.
To learn more, see the Related Topics listed below:
After working as an accountant, consultant, and university accounting instructor for more
than 25 years, Harold Averkamp formed AccountingCoach.com in 2003. His goal was to
share his knowledge and passion for teaching accounting with people throughout the
world at a very low cost. Read More...