Long-Term Assets

Long-term assets on a company’s balance sheet are those that are expected to generate economic benefits for a period greater than one year i.e. classified as non-current assets. Long-term assets include property, land, buildings, plant, machinery, computers, equipment and vehicles used in the business. They also include investments of more than a year as well as intangibles (accounting goodwill, patents, copyrights, licences, brands, trademarks, customer lists).