fixed asset clearing account definition
Fixed assets, also known as tangible assets or property, plant, and equipment (PP&E), is a term used in accounting for assets and property that cannot easily be converted into cash.This can be compared with current assets such as cash or bank accounts, which are described as liquid assets.March 2011). Fixed assets, also known as tangible assets or property, plant, and equipment (PP&E), is a term used in accounting for assets and property that cannot easily be converted into cash. This can be compared with current assets such as cash or bank accounts, which are described as liquid assets.