Fixed Asset

Fixed Asset is a long-term tangible bit of property that an organisation owns and uses inside the production of its income and is particularly not expected for being consumed or changed into cash any sooner than a minimum of one year’s time. Fized assets or home, plant, and equipment, is a term utilized in accounting for property and property of which cannot easily be changed into cash. This could be compared with current assets such as cash or bank accounts, which are described as liquid assets. In many instances, only tangible assets are often called fixed.