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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 clearing account is usually a temporary account containing costs or amounts that are to be transferred to another account. An example is the income summary account containing revenue and expense amounts to be transferred to retained earnings at the close of a fiscal period. [1] Other example of clearing account is excise clearing account.
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 ...
However, fixed assets are vital parts of the company that enable current assets to grow. Examples of Current Assets in Action You can look at any corporation’s balance sheet to see its current ...
Clean surplus accounting; Clearing account; Constant purchasing power accounting; ... Fixed asset; Forensic accounting; Fourth bottom line; Fund accounting; Funds ...
This accounting definition of assets includes items that are not owned by an enterprise, for example a leased building (Finance lease), but excludes employees because, while they have the capacity to generate economic benefits, an employer cannot control an employee. In economics, an asset (economics) is any form in which wealth can be held.
A clearing house is a financial institution formed to facilitate the exchange (i.e., clearance) of payments, securities, or derivatives transactions. The clearing house stands between two clearing firms (also known as member firms or participants). Its purpose is to reduce the risk of a member firm failing to honor its trade settlement ...
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.