Fixed Assets

Formal

Assets expected to be used by a business for a considerable length of time, eg vehicles, drilling rigs, IT equipment, land and buildings.

Straight Talk

Old fashioned assets used in business on a long-term basis. They sit there - ‘fixed’ as they are needed all the time. They are effectively ‘tied up’ in the long-term structure of the business and aren’t regularly traded, eg plant and equipment, buildings.