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fixed asset
Sign in to saveassets and property that cannot easily be converted into cash, like property, plant or equipment
Wikidata facts
- Subclass of
- asset
- Said to be same as
- fixed assets
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- topic's main category
- Category:Fixed asset
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via Wikidata · CC0
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Encyclopedic overview
Fixed assets (also known as long-lived assets or property, plant and equipment; PP&E) is a term used in accounting for assets and property that may not easily be converted into cash. They are contrasted with current assets, such as cash, bank accounts, and short-term debts receivable. In most cases, only tangible assets are referred to as fixed.
While IAS 16 (International Accounting Standard) does not define the term fixed asset, it is often colloquially considered a synonym for property, plant and equipment. According to IAS 16.6, property, plant and equipment are tangible items that:
Excerpted from Wikipedia’s “fixed asset” article, available under the CC BY-SA 4.0 licence.