Accounting Dictionary

A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z

Fixed Asset

Definition: A fixed asset is an item with a useful life greater than one year, and which exceeds an entity's minimum capitalization limit. It is not purchased with the intent of immediate resale, but rather for productive use within the entity. Also known as Property, Plant, and Equipment.