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Meaning of term Long-lived asset

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(Querist)
14 October 2008 Pls kindly tell me the meaning of Long Lived asset.
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S.Srinivasaraghavan

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S.Srinivasaraghavan (Expert)
18 October 2008 Asset that has served the longest of lives.
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Ravikumar.G

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Ravikumar.G (Expert)
20 November 2008 long-lived assets (a.k.a. non-current assets) carried on the balance sheet. Long-lived assets are those that provide the company with a future economic benefit beyond the current year or operating period. It may be helpful to remember that most (but not all) long-lived assets start as some sort of purchase by the company.
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