Fixed Assets - What is a fixed asset account?

Q: What is a fixed asset account?

Fixed assets—also known as tangible assets or property, plant, and equipment (PP&E)—is an accounting term for assets and property that cannot be easily converted into cash. ... Virtually all businesses have a fixed asset investment. Fixed assets are used in the production of goods and services to customers.

Answer

Property, plant, and equipment (PP&E), physical assets, or fixed assets are all ways to describe assets and property in accounting that aren't immediately convertible into cash. Almost every company has some kind of fixed asset. In order to provide products and services for consumers, businesses rely on fixed assets.

Fixed Assets - What is a fixed asset account?

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