Updated: 2006-10-19 14:05 Fixed asset, also known as
property, plant, and equipment (PP&E), is a term used in accountancy for
assets and property which cannot easily be converted into cash. This can be
compared with current assets such as cash or bank accounts, which are described
as liquid assets. In most cases, only tangible assets are referred to as fixed.
Fixed assets normally include items such as land and buildings, motor
vehicles, furniture, office equipment, computers, fixtures and fittings, and
plant and machinery. These often receive favorable tax treatment over short-term
assets because they depreciate over time.
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