Tangible Assets Definition
Tangible Assets are assets of physical form with a finite value.
Tangible Assets refers to assets of physical form, they will be of transactional value and typically have a finite life span. Tangible assets will make up the majority of a comapnys assets and will possess some level of liquidity should a sudden need for cash arise. Of Tangible Assets, there are two types which are:
Non Current Assets
Tangible Assets are a balance sheet item and are listed as the cost incurred for them. Although the way in which they are treated will vary depending on the type of Tangible Asset, for example a Tangible Asset that is Non Current will be depreciated over time. Whereas a Current Tangible Asset will not be depreciated as it will be coverted in to cash or consumed within the next 12 months.
Examples of Tangible Assets include:
Plant, Property and Equipment