fixed asset

(redirected from Long-Lived Asset)
Also found in: Dictionary, Legal.

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 ?
Under generally accepted accounting principles (GAAP), long-lived assets are initially recorded at historical cost, which often equals fair value.
1], which excludes goodwill impairment, impairment of long-lived assets and the deferred tax asset valuation allowance adjustment, was $1.
A significant decrease in the market price of a long-lived asset.
A change in balance-sheet components--adding a new liability and capitalized retirement costs as part of the carrying cost of the long-lived asset, and removing accumulated depreciation of retirement-related costs embedded there.
If only part of the acquired assets are being tested for impairment, some of the goodwill usually is allocated to those assets based on relative fair values of acquired long-lived assets and identifiable intangibles at acquisition.
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.
34 billion yen in write-downs on long-lived assets as well as 10.
The project's primary goals were to develop one accounting model, based on the framework established in Statement 121, for disposing long-lived assets by sale and to address significant implementation issues.
The provision for SFAS 121 impairments, terminated operations, and other asset impairments primarily represents the write-down of goodwill and other long-lived assets of acquired operations which are not deemed recoverable.
Another benefit should be an increase in consistency and comparability due to the uniformity that SFAS 121 brings to the calculation of the impairment of long-lived assets.
Under current accounting principles the Company is required to periodically evaluate the recoverability of these and other long-lived assets.
An SPE is created for a specific purpose or transaction and does not have the elements of a normal operating company, such as employees and long-lived assets.