Fixed assets

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Assets which are held by an entity to be used in its operations.

They are held for longer periods than current assets, being used by the entity for a number of years.

Tangible fixed assets are often reported as 'property, plant and equipment' (PPE).

Collectively, tangible and intangible long-term assets are known as 'non-current assets'.

Relevant accounting standards include IAS 16, IAS 38 and Section 17 and Section 27 of FRS 102.

See also