Other assets that appear in the balance sheet are called long-term or fixed assets because they're durable and will last more than one year. Examples of long-term assets include the following.

Reviewed by Somer Anderson Fact checked by Michael Rosenston Balance sheets are important financial statements that help ...

This helps account for accrued revenues accurately so that the balance sheet remains ... on April 1; however, they would not be required to pay for the item until May 1. For example, if the ...