FIXED ASSET CLASSIFICATION

This query is : Resolved

Quick Summary

Fixed assets are classified into categories like Equipment, Office Equipment, Furniture and Fixtures, Plant and Machinery, Land and Building, and Motor Vehicles. Classification depends on use and installation, for example AC as Equipment and car as Motor Vehicles.

sandeep

sandeep (Querist)
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02 January 2009 PLEASE TELL HOW TO CLASSIFY FOLLOWING ASSETS:

AIR CONDITIONERS
AQUAGUARD WATER PURIFIER
CAMERA
CELLULAR (TELEPHONE)
EPABX SYSTEM
FAX MACHINE
FIRE EXTINGUISHER
GENERATOR
FURNITURE & FIXTURE
MACHINERY
PHOTOCOPIER
PLOT (AT KUNDLI)
REFRIGERATOR
TELEVISION
TRANSFORMER
WATER COOLER
CAR CONSOLIDATED
SCOOTER
COMPUTER
COMPUTER SOFTWARE
PRINTER
UPS
WEIGHING SCALE
BUILDING
ELECTRIC INSTALLATION
BOILER
ELEVATOR
FIRE PROETECTION SYSTEM
TYPE WRITER
CYCLE
TELEPHONE
ELECTRICAL EQUIPMENTS
MOTOR CYCLE

ACTULLAY I WANT FIXED ASSET AC HEAD FOR THIS ASSET. for e.g. Air Conditioner = Office Equipment

Thrissurkkaran Ishtan

Thrissurkkaran Ishtan (Expert)
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28 August 2010 See below

AIR CONDITIONERS - Equipments
AQUAGUARD WATER PURIFIER - Same
CAMERA - Same
CELLULAR (TELEPHONE) - Same
EPABX SYSTEM - Same
FAX MACHINE- Same
FIRE EXTINGUISHER- Same
GENERATOR- Same (unless it is fixed in factory as plant and machinery)
FURNITURE & FIXTURE - Furniture and Fixture
MACHINERY - Plant and Machiner
PHOTOCOPIER - Office Equipments
PLOT (AT KUNDLI) - Land (as a part of Land and Building)
REFRIGERATOR - Equipments
TELEVISION - Same
TRANSFORMER -Same (unless it is fixed in factory as plant and machinery)
WATER COOLER- Equipments
CAR CONSOLIDATED - Motor Vehicles
SCOOTER - Same
COMPUTER - Office Equipments
COMPUTER SOFTWARE - Same
PRINTER - - Equipments
UPS- Equipments
WEIGHING SCALE-Same (unless it is fixed in factory as plant and machinery)
BUILDING - Land Building
ELECTRIC INSTALLATION -Equipments (unless it is fixed in factory as plant and machinery
BOILER - Equipments (unless it is fixed in factory as plant and machinery
ELEVATOR - Building (Under Land and building
FIRE PROETECTION SYSTEM (Equipments)
TYPE WRITER - Office Equipments
CYCLE - Vehicles
TELEPHONE - - Office Equipments

ELECTRICAL EQUIPMENTS - Equipments
MOTOR CYCLE - Motor Vehciles

You can also sub classify for accounting group purpose. Office Equipment and Equipments are same.

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