Fixed Asset Accounts are any accounts on a company’s balance sheet that are used to record tangible or intangible assets that the business owns and will be used over a long period of time. These accounts include items such as buildings, land, office furniture, and patents. A fixed asset is defined as anything with a useful life of more than one year, so they are not expected to be converted into cash in the near future. Companies use these accounts to piece together their financial picture, as well as to ensure accurate pricing of services rendered and products sold. Fixed Asset Accountants are responsible for ensuring these accounts are kept up-to-date and accurate.