Non-Financial Asset
A Non-Financial Asset is an asset with a physical value such as real estate, equipment, machinery, gold or oil.
Victorian Auditor-General’s Office
The Victorian Auditor-General’s Annual Plan 2015–162 notes that "Local councils are required, under AASB 116, Property Plant and Equipment, to carry major classes of non-financial assets at fair value. These assets are subject to periodic revaluation performed by external consultants, engaged by an individual local council or by in-house local council valuers."