Tangible Assets

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Summary

Definition Tangible Assets?

Tangible Assets are those assets that can be seen and have a physical existence. Typical examples of tangible assets are:

Machinery
Equipment, tools
IT hardware
Inventory (stock)
Vehicles
Cars
Ships
Airplanes
Houses
Offices
Plants
Land
Buildings
Money
Payments owed to you

The opposite of a tangible asset is an intangible asset. Common examples of intangible assets include brands, reputation, copyrights, patents, trademarks, trade secrets, know-how, goodwill.

Accounting Treatment of Tangible Assets

In accounting, this type of assets should be depreciated if it has an anticipated useful life of more than one year. A process of depreciation is used to allocate part of the asset's expense to each year of its useful life, instead of allocating the entire expense to the year in which the asset is purchased.
Note that in accounting, accounts receivable are also considered tangible, although they are not physical.

Special Interest Group

Tangible Assets Special Interest Group.

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Forum

Forum about Tangible Assets.

🔥	Quotes on Tangible Assets. Quotations Hi, do you know of a remarkable, humorous quote by a famous person or a proverb related to tangible assets?Please enter a reaction to share it for other people to enjoy! Please use this template:Autho... 2

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