Assets that have a physical form. Tangible assets consist of land, buildings, structures, machinery, vessels, delivery vehicles, tools, equipments, fixtures, construction in process, etc. with durability of more than a year.
Commentary
Tangible assets' depreciation values due to use over time get distributed as cost excluding non-depreciable assets such as land and construction in process. It is expressed by subtracting cumulative amount of depreciations and reductions from acquisition costs.