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TeachMeFinance.com - explain Fixed assets Fixed assets The term 'Fixed assets' as it applies to the area of energy can be defined as ' Tangible property used in the operations of an entity, but not expected to be consumed or converted into cash in the ordinary course of events. With a life in excess of one year, not intended for resale to customers, and subject to depreciation (with the exception of land), they are usually referred to as property, plant, and equipment'. Previous 5 Terms: Fission products Fissionable material fistuliform Fixed amount-frequency scheduling Fixed asset turnover Next 5 Terms: Fixed Capital Assets Fixed carbon Fixed charge coverage Fixed cone valve (Howell Bunger valve) Fixed cost (expense) About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005-2011 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional medical, legal or financial advice. Information presented at TeachMeFinance.com is provided on an "AS-IS" basis. Please read the disclaimer for details.