{"id":264015,"date":"2023-06-27T12:47:07","date_gmt":"2023-06-27T00:47:07","guid":{"rendered":"https:\/\/www.reckon.com\/au\/?page_id=264015"},"modified":"2024-10-04T13:55:50","modified_gmt":"2024-10-04T01:55:50","slug":"fixed-assets","status":"publish","type":"glo","link":"https:\/\/www.reckon.com\/au\/glossary\/fixed-assets\/","title":{"rendered":"What are fixed assets?"},"content":{"rendered":"

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Fixed assets are physical assets that are owned by a business entity and can be defined as \u2018long term\u2019. Fixed assets are used by a business to generate income or assist regular business operations.<\/p>\n

As they are not consumable and include things like property plant and equipment, fixed assets are generally referred to as long-term.<\/p>\n

As opposed to intangible assets, which are not physical, such as intellectual property, fixed assets are also tangible, in that they physically exist.<\/p>\n

Examples of fixed assets<\/h2>\n

Let\u2019s look at a few examples of fixed assets, that would be used by a regular business. As mentioned, fixed assets often fall under the category of \u2018property plant and equipment.<\/p>\n

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