Fixed Assets

Are tangible assets that serve more than one financial period, such as cars, buildings and equipment and ect. Fixed assets are depreciated annually at the amount of the annual depreciation expenses to income statement as expneses and to accumollated depreciation as fixed assets contra account, fixed assets called also property, plant and equipment by acronym PPE

Fixed assets are long-term tangible assets used in operations (e.g., buildings, equipment) that provide benefits over multiple periods and are depreciated over their useful lives.

- Used to explain the concept in accounting and business contexts.
- Used when training staff or documenting procedures and policies.

- Example: Teams reference **Fixed Assets** when defining terms in manuals, policies, or training materials.

- Why it matters: Improves clarity and consistency across documentation and decision-making.