Companies use and benefit from physical, long-term assets such as land and buildings. They have a physical form, unlike intangible assets like patents, trademarks, and copyrights, which do not.
More about land and structures
The whole cost of land and buildings is added to the balance sheet when a corporation buys them. The cost of a structure is amortised (spread over several years) rather than handled as a one-time expense because its value reduces as it is used. This amortisation is only done for buildings and shown on the income statement. Because land is considered to retain its value, it is rarely amortised.
