Fixed Asset

(redirected from Noncurrent assets)
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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.
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:
In the chapter on noncurrent assets, for instance, there appears in the middle of a technical passage on amortization of intangible assets an interesting summary of FASB's handling of the goodwill controversy.
115 will be reported on the balance sheet as either current or noncurrent assets based on the same criteria as presently used in applying SFAS No.
This improvement reflected the improved operating income and a gain on the sale of noncurrent assets such as the Company's former Head Office.
IFRS 5, implementation guidance, Example 12, displays noncurrent assets (or disposal groups) classified as held for sale and the liabilities directly associated with them as the last rank of current assets and current liabilities, respectively, although their degree of liquidity within current items may vary depending on the specific circumstances.
This improvement mainly reflected the recording of a gain on sales of noncurrent assets such as patents related to plasma displays, and decreased income taxes.
Categories of identifiable assets, such as rate disclosures of current and noncurrent assets or of inventory; net property, plant and equipment; and goodwill
A GASB preliminary views document, Implementation of GASB Statement Number 11, recommends keeping the effects of noncurrent assets (such as noncurrent intergovernmental revenues and certain prepaid items) and noncurrent liabilities (such as compensated absences and leases) out of the fund balance account.
In contrast, under the equity method, the net investment in joint ventures is presented as a single-line, noncurrent asset item on Serco's balance sheet, and Serco's sham of its joint ventures' net income is displayed as a single-line item (investment revenue) on its income statement Both methods produce the same shareholders' equity and net income.
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.