fixed asset


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Related to fixed asset: Current asset, Fixed asset turnover

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 ?
The tag number is the primary mechanism for identifying a fixed asset.
Intended to provide regulatory relief for credit unions, the new proposal eliminates a provision in the current fixed assets rule that establishes a 5% aggregate limit on investments in fixed assets for federal credit unions with $1 million or more in assets.
Unlimited companies are supported, and seven depreciation "books" can be kept for each fixed asset, including tax, internal, state, AMT, ACE and two user-defined books.
In determining whether an expense is a start-up cost or a fixed asset, CPAs should look to an entity's policy of accounting for fixed assets for guidance.
In July 2014, NCUA Board Member Rick Metsger said the plan to eliminate the 5% cap on fixed assets would provide regulatory relief for federal credit unions.
For many taxpayers, the property tax savings resulting from conducting an audit or fixed asset inventory to reveal nonexistent assets and identify assets that should be disposed of far exceed the costs of the audit or inventory.
Improvement desired: Easier client access, improvement in fixed assets and depreciation module, clearer manual.
Our corporate tax clients are faced with key issues in the fixed asset arena, including documentation, compliance, planning and reporting," states Michael Stenftenagel, Tax Lead Director, Sirius Solutions.
We have 28 branches but our fixed asset ratio is only 2.
A major oil field services firm, for example, via a fixed asset software package, plans to post its holdings on its corporate intranet, allowing its divisions to know what it owns, thus promoting its co-location initiatives.
The Fixed Asset Management System (FAMS), for instance, allows Citicorp to track domestic and overseas assets for tax compliance purposes.
We are proud that Red Moon Solutions' latest release of Fixed Assets Manager supports the new legislation," states Jim Shedivy, President, Red Moon Solutions.