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TeachMeFinance.com - explain fixed assets Fixed Assets -- Equipment, buildings, etc., which are purchased and used for long-term purposes. another definition... fixed assets -- those tangible assets, such as office buildings, furniture, fixtures, and equipment, used in the operation of a business, that have a relatively long life and are not intended to be sold in the normal process of the business. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.