Are Fixed Assets Current Assets?

Written by True Tamplin, BSc, CEPF®

Updated on January 02, 2023

No, fixed assets are not current assets. Current assets are any assets that will provide an economic benefit for or within one year. Fixed assets by definition have a useful life of longer than one year. Therefore, fixed assets are considered long-term or noncurrent assets.

Are Fixed Assets Current Assets FAQs

Are fixed assets current assets?

No, fixed assets are not current assets.

What is a current asset?

Current assets are any assets that will provide an economic benefit for or within one year.

How long is the useful life of a current asset?

Fixed assets by definition have a useful life of longer than one year.

What constitutes a fixed asset?

Fixed assets are considered long-term or noncurrent assets.

About the Author

True Tamplin, BSc, CEPF®

True Tamplin is a published author, public speaker, CEO of UpDigital, and founder of Finance Strategists.

True is a Certified Educator in Personal Finance (CEPF®), author of The Handy Financial Ratios Guide, a member of the Society for Advancing Business Editing and Writing, contributes to his financial education site, Finance Strategists, and has spoken to various financial communities such as the CFA Institute, as well as university students like his Alma mater, Biola University, where he received a bachelor of science in business and data analytics.

To learn more about True, visit his personal website, view his author profile on Amazon, or check out his speaker profile on the CFA Institute website.