Search results
Results from the WOW.Com Content Network
A fixed asset (also known as long-lived assets or property, plant and equipment (PP&E)) is a term used in accounting for assets and property that may not easily be converted into cash. [1] Fixed assets are different from current assets, such as cash or bank accounts, because the latter are liquid assets. In most cases, only tangible assets are ...
A fixed asset, often referred to as a tangible asset or property, plant, and equipment (PP&E), is a long-term asset that holds value over time and can be used to generate income.
That is, the mark-down in value of the asset should be recognised as an expense in the income statement every accounting period throughout the asset's useful life. [1] The useful life of the asset is determined by taking into account expected usage, physical wear and tear, technical or commercial obsolescence arising from changes in production ...
Fixed assets management is an accounting process that seeks to track fixed assets for the purposes of financial accounting, preventive maintenance, and theft deterrence. Organizations face a significant challenge to track the location, quantity, condition, maintenance and depreciation status of their fixed assets.
In accounting, fixed capital is any kind of real, physical asset that is used repeatedly in the production of a product. In economics , fixed capital is a type of capital good that as a real, physical asset is used as a means of production which is durable or isn't fully consumed in a single time period. [ 1 ]
A fixed asset register (FAR) is a list of fixed assets that belong to an entity. [1] Traditionally the fixed asset register was maintained in written form by a bookkeeper using a book that was set aside specifically for that purpose. Nowadays, it is more often held in electronic format in an accounting system.
fixed assets constructed to improve land, such as drainage systems, dykes, or breakwaters or on assets which are constructed on or through land - roads, railway tracks, tunnels, dams, etc. Losses of fixed assets due to normal accidental damage, i.e. damage caused to assets used in production resulting from their exposure to the risk of fires ...
The term "fixed investment" may be somewhat ambiguous, because it could refer to the value of a stock of fixed assets being held at a balance date, or as in economics, to the value of a flow of expenditures on fixed assets across an accounting interval, such as a year. The distinction is not always clearly stated in statistical tabulations ...