Fixed assets in accounting are tangible assets held for use in the production or supply of goods or services, to be directed to other parties, or for administrative purposes; and is expected to be used for more than one period.
This type of non-current assets are usually purchased for use in operations and are not intended for resale. Examples of fixed assets include property, buildings, factories, production equipment, machinery, motor vehicles, furniture, office equipment, computers, and others. Fixed assets usually get relief in tax treatment. Except for land or land, fixed assets are subject to depreciation or depreciation.