If You want a smiplest meaning of tangible and intangible asset that is, tangible asset is a asset which we can touch and fell and intangible asset is a asset which we cant touch and feel
A tangible asset is anything that can be seen and can have physical presence like cash, property, plants and machinery or investment. On the other hand, intangible assets are such that one company, trademark, and intellectual property rights can not be seen as goodwill. These are things that can not be seen, but sometimes more value is obtained than tangible assets, although both are assets, and an accountant needs to keep track of all the assets of the company, whether it is tangible or intangible . Evaluating a tangible asset is easy because the intangible assets are very different in their evaluation and this fact affects the total value of a company. In the balance sheet, an accountant has to break the fixed assets of the company into tangible and intangible assets.
Another difference between the two types of assets is how much of these assets is calculated in the duration of the cost duration. However, tangible assets decrease (their value decreases over time), intangible assets are refined. Long term assets such as plants and machinery, buildings and equipment etc. lose their value over time. This rule does not apply to the land which appreciates the price rather than the reduction. It is easy to see the value of tangible assets in the balance sheet.
Intangible assets, although there is no physical form, there may be more value than the tangible asset. For example, a patent that can be spent in large quantities initially, is used by the company for a period of 15 years. And its competitors are prohibited from making products during this period which allows the company to earn generously. This is the reason that intangible assets are more valuable than tangible assets.
However, while tangible assets can be bought and sold, intangible assets are difficult to sell in the market. This is the reason why it is so difficult to find the real value of an intangible asset if you have to, imagine the real value of the company without patents and you will feel the importance of intangible assets. Companies owned by intangible assets realize the importance of intangible assets and try to create excesses among them during their lifetime.
Although the value of tangible assets is gradually decreasing, the value of intangible assets remains the same and suddenly becomes zero near its expiration period.