What are Furniture and Fixtures?

Furniture and fixtures are larger items of movable equipment that are used to furnish an office. This is a commonly-used fixed asset classification that is categorized as a long-term asset on an organization's balance sheet. These assets have a mid-range depreciation period, typically in the range of five to ten years. The balance in this account can be comparatively large for a business that is mostly administrative in nature, such as an insurance company.

Examples of Furniture and Fixtures

Examples of furniture and fixtures are noted below, with furniture listed before fixtures:

Furniture:

Desks and chairs
Cubicle workstations
Conference tables
Reception desks
Waiting room seating
File cabinets
Storage lockers
Bookcases and storage shelving

Fixtures:

Built-in cabinetry
Ceiling-mounted projectors
Wall-mounted monitors
Overhead lighting
Built-in audio-visual systems
Recessed lighting
Security systems

Presentation of Furniture and Fixtures

Assets classified as furniture and fixtures are usually aggregated into a single Fixed Assets line item, which appears in the long-term assets section of the balance sheet. It is paired with and offset by the accumulated deprecation line item, which is a contra asset account. The net of these two line items represents the net amount of fixed assets on the books of the reporting entity.