Long-term Assets

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 to customers.

Less commonly called fixed assets.

• Capital and Revenue Expenditures
• Depreciation Methods
• Disposal of Depreciable Assets Involving Exchanges
• Disposal of Depreciable Assets Not Involving Exchanges
• Intangible Assets
• Natural Resources
• Types of Long-term Assets