The Income|Outcome^® Contextuary

Fixed Assets are Assets which are categorized as ‘permanent’ and not intended to be ‘turned over’ in the normal business cycle.

Fixed Assets may be tangible items such as land, buildings, equipment and furniture with a useful business life of greater than one year; or they may be intangible items such as Goodwill and Intellectual Property. Long-Term Investments are also Fixed Assets.

“What do you mean by that?”

Some companies use the grouping Non-Current Assets to include Tangible Assets and a second grouping grouping Intangible Assets for Intangible Assets (Goodwill and Intellectual Property).