Tangible Assets

Tangible Assets are plant assets that have physical substance such as land, building, and machinery.  The term tangible asset is often associated with property, plant, and equipment, and is usually subdivided into two categories:

• Land - is considered an asset with an unlimited term of existence; therefore, land is never depreciated.
• Property Plant - these assets normally have a limited term of existence; therefore, they are subject to depreciation.

Tangible assets are usually long term assets, and can be found on a company's balance sheet.