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+--- Thread: FIXED ASSETS REGISTER (/showthread.php?tid=7595)
FIXED ASSETS REGISTER - liaqatbobi - 03-13-2010
HELLO DEAR ALL!
IS ANY1 CAN HELP ME TO DIFFERTIATE BETWEEN FIXED & CAPITAL ITEMS AND IF ANY1 HAVE FORMAT FOR FIXED ASSETS PLEASE SEND ME.
REGARDS
LIAQUAT ALI
- Riftaj - 03-20-2010
hi dear
Capital asset has two related meanings in the fields of accounting and financial economics. In accounting, a capital asset is an asset that is recorded on a balance sheet as capital - that is, property that creates more property, e.g. a factory that creates shoes, or a forest that yields a quantity of wood. In financial economics, capital assets also include financial assets such as stocks or bonds.
fixed asset
Non-current asset, also known as property, plant, and equipment (PP&E), is a term used in accountancy for assets and property which cannot easily be converted into cash. This can be compared with current assets such as cash or bank accounts, which are described as liquid assets. In most cases, only tangible assets are referred to as fixed.
Fixed assets normally include items such as land and buildings, motor vehicles, furniture, office equipment, computers, fixtures and fittings, and plant and machinery. These often receive favorable tax treatment (depreciation allowance) over short-term assets.
2 years ago
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by liaqatbobi</i>
<br />HELLO DEAR ALL!
IS ANY1 CAN HELP ME TO DIFFERTIATE BETWEEN FIXED & CAPITAL ITEMS AND IF ANY1 HAVE FORMAT FOR FIXED ASSETS PLEASE SEND ME.
REGARDS
LIAQUAT ALI
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
- LapTop - 03-20-2010
âcapital assetâ means property of any kind held by a person, whether or not connected with a business, but does not include â
(a) any stock-in-trade (not being stocks and shares), consumable stores or raw materials held for the purpose of business.
(b) any property with respect to which the person is entitled to a depreciation deduction under section 22 or amortisation deduction under section 24;
© any immovable property.
(d) any movable property excluding capital assets specified in sub-section (5) of section 38]held for personal use by the person or any member of the personâs family dependent on the person.
- LapTop - 03-20-2010
âdepreciable assetâ means any tangible movable property, immovable property other than unimproved land, or structural improvement to immovable property, owned by a person that â
(a) has a normal useful life exceeding one year;
(b) is likely to lose value as a result of normal wear and tear, or obsolescence; and
© is used wholly or partly by the person in deriving income from business chargeable to tax,