Financial Glossary: Tangible asset


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Tangible asset

Tangible asset

Assets having a physical existence, such as Cash, equipment, and Real Estate; accounts receivable are also usually considered tangible assets for accounting purposes. opposite of intangible asset.

An asset is defined as a probable Future economic benefit obtained or controlled by a particular entity as a result of a past transaction or event.Intangible assets lack physical substance and usually are very hard to evaluate. They include patents, copyrights, franchises, Goodwill, trademarks, trade names, etc. These assets are (according to US GAAP) amortized to Expense over 5 to 40 years with the exception of Goodwill.

Some assets such as websites are treated differently in different countries and may fall under either tangible or intangible assets.

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