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V A L U A T I O N O F F I X E D A S S E T S
Essay specific features
Written by:
Wayne P
Date added:
March 15, 2016
Level:
University
Grade:
A
No of pages / words:
7 / 1812
Was viewed:
10237 times
Rating of current essay:
Essay content:
Financial statements disclose certain information relating to fixed assets. In many enterprises these assets are grouped into various categories, such as land, buildings, plant and machinery, vehicles, furniture and fittings, goodwill, patents, trade marks and designs.
Definition:
According to Accounting Standard-10 “Fixed asset is an asset held with the intention of being used for the purpose of producing or providing goods or services and is not held
for sale in the normal course of business...
displayed 300 characters
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For example, machines, buildings, patents or licences can be fixed assets of a business.
The two major asset classes are tangible assets and intangible assets:
Tangible assets contain various subclasses, including current assets and fixed assets. Current assets include inventory, while fixed assets include such items as buildings and equipment...
displayed 300 characters
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