Fixed Asset

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Fixed Asset

Property, such as machinery or buildings, utilized in a business that will not be used or liquidated during the current fiscal period.

References in periodicals archive ?
Step two is to apply a depreciation rate of 25 per cent on a reducing-balance basis to HJ's noncurrent assets over the four-year period.
In this case, if KL were to replace its noncurrent assets with new equipment at a cost of $1.
The two companies use different depreciation policies: HJ depreciates its noncurrent assets using straight-line depreciation at the rate of 20 per cent of cost with no residual value; KL uses the reducing-balance method at 25 per cent per annum.
121 is applicable to determining impairment in all noncurrent assets in GAAP-based financial statements (including assets held by not-for-profit entities) except that the document is not applicable to the following:
The purpose of this paper is to provide practical guidance to practitioners in considering (a) whether noncurrent assets have been impaired, (b) how to measure the impairment loss, and (c) how to display the impairment loss in GAAP-based financial statements.
11 implementation in the general long-term debt account group and setting up reserved fund balances for any noncurrent assets resulting from the statement's implementation.
In addition, the Company reclassified $434,000 of noncurrent assets to goodwill as part of finalizing the accounting for the Acuitrek acquisition.
For example, a deferred tax asset or liability due to a temporary difference from depreciation will be noncurrent because it relates to a noncurrent asset.