Physical asset management system
Physical assets are "tangible assets", which may not be visible, but they must have obvious value. Houses, articles, commodities and inventories in the company are all "physical assets".
Interpretation of "Physical Assets" in Academic Literature
1. Physical assets refer to the inventory and fixed assets of an enterprise, which account for a large proportion of total assets, so internal control is more important.
2. Physical assets refer to assets in physical form. It includes inventory and fixed assets. Inventory includes inventory materials, finished products in process and semi-finished products. Fixed assets refer to buildings, machinery, land, etc. with a service life of more than one year.