Land and Buildings

Land and buildings are physical properties owned by individuals or entities. Land refers to the natural, earth's surface area, including soil, minerals, and resources. Buildings are structures constructed on the land, such as homes, offices, or factories. Both are considered tangible assets in accounting and finance. Land typically appreciates over time unless affected by changes in the environment or economy, while buildings may depreciate due to wear and tear. Together, they represent significant long-term investments and are recorded on financial statements to reflect their value and usage.