hi all what is exactly fixed assets
This query is : Resolved
09 October 2007
in one of our clint sell the
09 October 2007
A Fixed Asset is generally an asset whose life will be definitely beyond one year from the date of purchase of that asset.
So, it means indirectly that, assets whose life is below one year cannot be a fixed asset.
It is only accounting definition.
So, it means indirectly that, assets whose life is below one year cannot be a fixed asset.
It is only accounting definition.
10 October 2007
Fixed Asset can also be defined as
An Item that will give benefits for more than one year and has a wear and tear over a period of time and are depreciated
Except Intangible Assets and Land % Building
An Item that will give benefits for more than one year and has a wear and tear over a period of time and are depreciated
Except Intangible Assets and Land % Building
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