"Assets that have a useful life of more than one year, are acquired for use in the operation of a business, and are not intended for resale. Less commonly called fixed assets."
See "Fixed Assets."
On a balance sheet, the value of a company's property, equipment and other capital assets expected to be useable for more than one year, minus depreciation.
In accounting, assets that a company plans to hold indefinitely or for a long time—generally more than a year—to generate income. Contrast with short-term assets.
A long-term asset is one that is consumed or used over a number of accounting cycles, from more than one year to 40 years. The long-term asset accounts include assets such as land, buildings, equipment, and intangibles such as goodwill.
Value of property, equipment and other capital assets minus the depreciation. This is an entry in the bookkeeping records of a company, usually on a "cost" basis and thus does not necessarily reflect the market value of the assets.