Fixed assets are long-term tangible properties or equipment essential to a company's operations. These assets, such as buildings, machinery, and vehicles, appear on the balance sheet as property,... Learn what fixed assets are, how they are used in business operations, and how they affect financial statements. Fixed assets are long-term tangible assets that are capitalized and depreciated on the balance sheet. Fixed assets, also known as tangible assets, are long-term resources that a business owns and utilizes to generate revenue. These assets are not meant for sale but rather for continuous use in operations. Fixed assets are assets that have a useful life of more than one year. Fixed assets include property, plant, and equipment and are recorded on the balance sheet.
