What are Tangible assets?

Tangible assets (Definition)

Tangible assets are assets that have a physical form, so it can be touched. For a business, a tangible asset is defined as an asset that has real value and they are the most important assets a company can have. There are two types of tangible asset, current and fixed. Current assets are those that will be used in the near future, such as stock. Fixed assets are those that will continue to create revenue for many years to come, such as machinery. Other examples of tangible assets include land and property, cash, furniture, office supplies, vehicles, and equipment. In accounting, current assets are often transformed into cash, which is then recorded as revenue in a corporation's financial accounts.