fixed asset

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Related to Long-Lived Assets: Fixed asset, tangible assets

Fixed asset

Long-lived property owned by a firm that is used by a firm in the production of its income. Tangible fixed assets include real estate, plant, and equipment. Intangible fixed assets include patents, trademarks, and customer recognition.

Fixed Asset

An asset with a long-term useful life that a company uses to make its products or provide its services. Strictly speaking, a fixed asset is any asset that the company does not expect to sell for at least a year, but the term often refers to assets a company expects to have indefinitely. Common examples of fixed assets are real estate and factories, which a company holds for long periods of time.

fixed asset

An asset not readily convertible to cash that is used in the normal course of business. Examples of fixed assets include machinery, buildings, and fixtures. A firm whose total assets are made up primarily of fixed assets is in a less liquid financial position, thus entailing greater risk of a big tumble in profits if its revenues fall.
References in periodicals archive ?
All non-GAAP measures other than EBITDA exclude, as applicable, share-based compensation, interest expenses related to the changes in the fair value of the interest rate swap and the amortization of the debt discount, the amortization of intangible assets, inventory provision, impairment of long-lived assets, disposal gain from long- lived assets and land use rights held by Fine Silicon Co.
The accounting model for long-lived assets to be disposed of by sale applies to all such assets, including discounted operations, and replaces the provisions of APB Opinion No.
Information needed for assessing carrying amounts of long-lived assets is more complex than for current assets.
5 million permanent impairment of long-lived assets following a FASB ASC 360 review.
For many years, companies and other entities accounted for the disposal or expected disposal of long-lived assets that were a segment of a business using one set of rules and the disposal of long-lived assets that were not a segment of a business using another standard.
Research studies by the Institute of Management Accountants (IMA) and the Financial Executives Institute (FEI) point out the diverse methods used to recognize, and report impairments of long-lived assets.
Results for the six months ended June 30, 2009 include losses on sales of facilities of $8 million and an impairment of long-lived assets of $13 million compared to gains on sales of facilities of $40 million and an impairment of long-lived assets of $9 million in the first half of 2008.
The new statement establishes a single accounting model for long-lived assets to be disposed of by sale.
Fourth quarter 2006 results include gains on investments of $103 million, gains on sales of facilities of $159 million, transaction costs related to the completed merger of $433 million and an impairment of long-lived assets of $24 million.
With the long-term business trend toward a more balance-sheet oriented focus in accounting, FASB has fixed its attention on how entities account for obligations associated with the retirement of tangible long-lived assets.
In conjunction with its review, Intier also assessed the recoverability of long- lived assets in the reporting segment and has determined that it is appropriate to reduce the carrying value of long-lived assets by U.
121 had established accounting standards for the impairment of long-lived assets to be held and used, including certain identifiable intangibles and goodwill related to those assets, and for long-lived assets to be disposed of, including certain identifiable intangibles.