one having physical substance and a life greater than one year. It is not held for resale in the ordinary course of business. Examples are machinery, furniture, and building.
real property or personal property, such as buildings, machinery, and real property. Tangible assets are distinguished from intangible assets such as trademarks, copyrights, and goodwill, and natural resources (timberlands, oil reserves, and coal deposits). Also includes accounts receivable of a concern. Tangible and intangible assets are recorded separately on the balance sheet. Physical assets are depreciated over their useful life; intangibles are amortized. The book value of wasting assets, such as coal, gas, or oil is reduced through depletion. Accounting rules are vague on this distinction between tangibles and intangibles. Generally, any asset not expressly defined as an intangible is considered a tangible asset.
any asset having physical existence, like real estate, gold, or machinery.
any asset not meeting the definition of an intangible asset, which is a nonphysical right to something presumed to represent an advantage in the marketplace, such as a trademark or patent. Thus tangible assets are clearly those having physical existence, like cash, real estate, or machinery. Yet in accounting, assets such as accounts receivable are considered tangible, even though they are no more physical than a license or a lease, both of which are considered intangible. In summary: if an asset has physical form it is tangible; if it doesn't, consult a list of what accountants have decided are intangible assets.
