Fixed Asset
/ˈfɪksd ˈæsɛt/
Definitions
- (n.) A long-term tangible piece of property owned by an entity and used in its operations, not expected to be consumed or converted into cash within one business cycle.
The company listed its factory building and machinery under fixed assets on the balance sheet.
Forms
- fixed assets
Related terms
See also
Commentary
In drafting, specify whether the term refers to accounting or legal contexts; fixed assets are central to property classification and depreciation rules.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.