Most small businesses use some form of a fixed asset in their operations. A fixed asset is a resource a business reports in the assets section of its balance sheet, typically under the "property, ...

Assets refer to resources that can be converted into cash. Learn how assets work, the various types of assets, how to determine an asset's value and more.

Accounting divides your company assets into two classes: current and long-term. Current assets include cash and anything you use up or convert to cash over the next 12 months. Typical examples are ...

Fixed assets and depreciable assets are two very closely, interrelated items on a company's balance sheet. Let's define each and describe how they are the same and subtly different. A fixed asset is ...

A financial statement that lists the assets, liabilities and equity of a company at a specific point in time and is used to calculate the net worth of a business. A basic tenet of double-entry ...

When companies buy big ticket items like buildings, machinery, or vehicles, accountants are not necessarily required to keep those assets on the books in a specific way. There are rules, of course, ...

Fixed asset impairment occurs when asset market value drops below its book value. To detect impairment, compare asset's book value against its recoverable amount. If impaired, reduce book value on ...