Fixed Asset

(redirected from Non-current asset)
Also found in: Dictionary, Financial.

Fixed Asset

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

West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.
References in periodicals archive ?
Learning Objective 3 * To identify accounts for current and non-current assets. In Chapter 1, you read that assets are the items purchased by the farm business and expected to earn money for the farm.
Learning Objective 5 * To perform the accounting procedures for discarding a non-current asset. The disposing of non-current assets can occur by selling them for cash, exchanging them for other assets, or scrapping them.
A non-current asset is acquired for 100,000 [pounds sterling] on the first day of its first year and depreciated at 25 per cent (straight line).
The profit includes capital losses on sales of non-current assets and impairment losses totalling a negative SEK390m net, of which a negative SEK382m pertains to the sale of Hemtex.
The company's auditor Pathak H D & Associates said the company defaulted in repayment of principal and interest to its lenders, loans have been called back by secured lenders, non-current assets are significantly impaired and current liabilities exceeded its total assets.
Decrease (Increase) in other non-current assets (14 ) 20 10
As at the end of the Reporting Period, the closing balance of the Group's assets held-for-sale decreased by 84.34% from that at the beginning of the year, mainly due to the disposal of some non-current assets held-for-sale during the Reporting Period.
The financial statements of the county indicated that the county had non-current assets worth Sh2.1 billion.