Fixed assets are usually found on a balance sheet in a category called property, plant and equipment, according to Dummies. Use your accounting software to find the balance sheet, one of the major financial statements small businesses use. . When assets are acquired, they should be recorded as fixed assets if they meet the following two criteria: Exceeds the corporate capitalization limit. The capitalization limit is the amount of expenditure below which an item is recorded as an expense, rather than an asset. For example, if the. . It retains its original shape and appearance with use. It is nonexpendable; that is, if the article is damaged or some of its parts are lost or worn out, it is usually more feasible to repair it rather than replace it with an entirely new unit. It represents an investment of money which makes it. . The following are the general list categories of fixed assets: Buildings include an office building, warehouse, and other similar kinds. Their useful life is normally longer compared to other fixed assets. Computer equipment: Laptops, desktops, servers, printers, and other similar equipment. Useful. . Equipment typically falls under the asset category in accounting. This is because equipment is a tangible, long-term investment that benefits a business for more than one year. However, the equipment cost isn't expensed immediately in the year of purchase. Instead, it's gradually deducted over time. . at Items Are Included in Fixed Assets and Other Things 'fixed asset sts include buildings, computers, manufacturing equipment, vehicles, office equipment and urniture. They last a year or more and are used to help a. .