Fixed Assets
From Financialjargon
Definition of Fixed Assets
The term ‘Fixed Assets’ - refers to assets that are a ‘fixed’ item within a business, usually for more than 1 year (and hence long-term assets).
Fixed assets are also referred to as ‘Property, Plant, and Equipment’ and sometimes as ‘Non-current Assets’.
They are for continual use in the business and are essentially used to make money.
There are many different types of fixed assets found in businesses. The most common types are land; buildings; machinery; fixtures and fittings; office equipment; computers and motor vehicles.
Other Financial Statements terms
- Asset
- Capital Employed
- Contingent liability
- Cost of Goods Sold
- Cost of Sales
- Creditors
- Current Assets
- Cash assets
- Current liabilities
- Debtors
- Exceptional item
- Gross margin
- Gross profit
- Intangible Assets
- Liability
- Net profit
- Operating expenses
- Operating profit
- Retained earnings/profits
- Revenue (alternatively, sales or turnover)
- Share capital
- Share premium account
- Shareholders' funds-Equity
- Stock
- Taxable profits
- Year-end
