Tangible Assets

Tangible Assets are plant assets that have physical substance such as land, building and machinery.  The term tangible assets 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 and are therefore subject to depreciation.

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