Accounting › Section J · Long-term assets › Topic J.1
Tangible and intangible assets, capitalized costs
A printing press, a patch of land and a patent all serve a business for years. Deciding which costs belong on the balance sheet, and which go straight to expense, shapes both profit and total assets for every year the asset is used.
In this topic
- Assets that work for years
- Tangible long-term assets
- Intangible long-term assets
- Operating assets versus investments
- What capitalising a cost means
- Worked example: the cost of a press
- Land and land improvements
- Worked example: a building site
- Spending on assets already in use
- Why the line matters
- Common mistakes to avoid
- Key takeaways
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