Furniture, fixtures, and equipment (FF&E) all refer to items that are not permanently attached to a structure or building, and are instead removable in nature. These types of assets are found in all manner of commercial, industrial, and hospitality settings, and serve as an integral part of most businesses’ fine inventory. They also tend to have fairly long useful lives, so they can be reused and repurposed in the many different business operations.

In its simplest terms, furniture includes any item found indoors or outdoors whose primary function is to provide comfort or convenience. This includes chairs, tables, desks, sofas, rugs, and office cubicles, among others. Fixtures, meanwhile, are fixed items such as lighting, air conditioning systems, plumbing, and so on. Finally, equipment is generally any piece of machinery that is used to carry out a certain task, such as computers, industrial equipment, and machinery.

FF&E assets can improve a company’s efficiency, aesthetic appeal, and customer experience. Businesses typically opt for the best quality of furniture, fixtures, and equipment for specific purposes to ensure a well-functioning office and business operations. For example, a luxurious office setting will most likely require a high quality office furniture, fixtures, and equipment to truly make an impact.

When it comes to accounting, FF&E assets typically follow the IRS rules regarding depreciation. Companies calculate the useful life of each asset, with the different depreciative rates applied to each type of asset. For example, computers used in a business operation or a manufacturing operation are generally considered to be five-year assets since they are usually replaced within that timeline due to advances in technology.

There are some notable examples of businesses that have benefited largely from investing in high-quality furniture, fixtures, and equipment. In the hospitality industry, for example, well-equipped rooms have been known to start the journey of customer lasting impression. Similarly, in the healthcare industry, the right equipment to perform surgery has been known to potentially save lives.

To sum up, furniture, fixtures, and equipment (FF&E) are items that aren't permanently attached to a structure, and are instead easily removable items that are found in businesses, industries, and hospitality settings. They can significantly aid in improving a company’s efficiency, aesthetic appeal, and customer experience. However, as businesses invest in high-quality FF&E they will need to take into account the depreciation of these assets as they have different useful lives according to IRS guidelines.