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Land and buildings

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Land and buildings are tangible, long-term assets companies use and benefit from over time. They are tangible because they have a physical form—unlike intangible assets (such as patents, trademarks and copyrights) that do not.

More about land and buildings

When a company purchases land and buildings, the full cost is added to the balance sheet. Because the value of a building decreases as it is used, its cost is amortized (spread across several years) rather than treated as a one-time expense. This amortization appears on the income statement and is done only for buildings. Land is not usually amortized because it is assumed to hold its value.

Land and buildings

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