What is the difference between fixed assets and current assets?

What is the difference between fixed assets and current assets?

David Weller (Co -author Teach Yourself: Setting Up A Small Business) gives expert video advice on: What is meant by cash flow?; What are overheads?; What is the difference between fixed assets and current assets? and more...

Assets are things that a business owns and are divided into two categories. Fixed assets are things like land and buildings, machinery and motor vehicles, but current assets are things like debtors, which may sound surprising. A debtor owes you money, and money is an asset. The value of the stock you hold; that's an asset. As also, the cash at the bank and cash in hand.