Fixed assets

A fixed asset is defined as any asset, tangible or intangible, acquired for retention by an entity for the purpose of providing a service to the business, and not held for resale in the normal course of trading. This includes, for example, equipment, machinery, furniture, fittings, computers (see also depreciation)


reference: Business Studies / Accounting. Accounts & Finance Glossary. Jim Riley BA(Hons) MBA FCA // tutor2u