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Over 700 finance terms, Shmooped to perfection.
"Fixed assets" refers to assets that are "hard items"—like property and equipment. That is, these are assets that the company paid for in cash (99.99% of the time) and are going to be used for a good long while. They carry an asset value on the company's balance sheet, and they're considered "non-current" assets, since they aren't going to be sold for cash easily or any time soon (probably).