Furniture and fixtures

Furniture and fixtures are larger items of movable equipment that are used to furnish an office. Examples are bookcases, chairs, desks, filing cabinets, and tables. This is a commonly-used fixed asset classification that is categorized as a long-term asset on an organization's balance sheet. These assets have a mid-range depreciation period, typically in the range of five to ten years. The balance in this account can be comparatively large for a business that is mostly administrative in nature, such as an insurance company.