Net Book Value Of Non-Current Assets: (Explanation, Calculation, Example)

Fixed Assets

A business entity is a for-profit organization that performs different operations to earn profit. For effective operations, different resources are required by the company. For instance, money is a resource that a company uses to acquire supplies, raw materials,...

Fixed Assets In The Balance Sheet: Classification, Recognition, Measurement

Fixed Assets

A company’s balance sheet represents the financial health and position of a company at a given time. Most commonly, a balance sheet is based on the accounting equation. It represents the assets owned by a business entity, liabilities owed, and the business’s equity....

Leasehold Improvements: Accounting Treatment and Depreciation

Fixed Assets

Overview Leasehold Improvement can be described as the changes that are made to the leased or rental property in order to ensure that it is best suited for the purposes of the tenant. During the course of the lease agreement, there might be a number of changes that...

Account for Repair and Maintenance Expense – Overview, Journal Entries, and Example

Financial Accounting, Fixed Assets

Overview During the normal course of business, there are certain routine expenses that are considered unavoidable. They are part and parcel of the operations of the company, and therefore, need to be paid by the company in order to ensure that there are no bottlenecks...

Building Improvement: Accounting, Journal entries, Depreciation

Fixed Assets

Overview: Building Improvement tends to be a major expense for organizations, as well as for private investors because they require a significant amount of finance to be invested in a line with the expense. In this regard, it is also important to properly categorize...

Fictitious Assets: Definition, Example, and List

Current Assets, Financial Statements, Fixed Assets

Definition Fictitious assets can be defined as fake assets, which are normally used to record assets that do not have physical substance. They do not have a physical presence, and hence, these assets are not really assets in the true sense. Still, they are defined as...