0
Idle assets are assets that are lying unused or that are not earning any income. Any asset that is unused or not appreciating in value can be considered an idle asset. For example when you place cash in your vault, it can be considered an idle asset. It is not being used for anything and nor is it increasing in value. If we had invested it somewhere or atleast deposited it in a bank, it would be earning interest and hence we could not term it idle. Now since it is just lying there in the vault it can be considered idle.
Wiki User
∙ 15y ago
Add your answer:
Earn +20 pts
Should deprciation should be charged on idle assets?
Under all of US GAAP, CDN GAAP and IFRS, idle assets should continue to be depreciated.
What is the difference between current assets vs total assets?
Current assets are those assets which is usable in current fiscal year while total assets includes assets other then current assets like long term assets as formula showTotal assets = current assets + fixed assets
What is difference between personal assets and company assets?
Personal assets is assets that are owned by a person. Company assets are assets that are own by the company.
What part of speech is the word idle?
Idle is an adjective (idle threats) and a verb (to idle).
When was Idle Thoughts of an Idle Fellow created?
Idle Thoughts of an Idle Fellow was created in 1886.
Are intangible assets included in current assets?
Intangible Assets are not included in current assets. They are usually listed under Other Assets.
What is the difference between tangible assets and intangible assets?
We can feel tangible asset,where as we cannot feel intangible asset
How do you find the percentage of current assets to total assets?
percentage of current assets to total assets
Are intangible assets included in liabilities?
Intangible assets are assets like other assets just they cannot be seen by eye or feel by hand but as they are assets they are included in assets and part of liability.
Types of assets that are amortized?
Intangible assets are those assets which are amortized as compared to tangible assets which are depreciated.
What are the categories of assets?
1. 1 - Current Assets 2 - Fixed Assets 3 - Ficticious Assets
Would idle cash in a bank checking account classified as a short term investment?
No, idle cash in a bank checking account is not considered a short-term investment. It is simply cash that is not being actively used or invested. Short-term investments typically refer to assets that are expected to be converted into cash within a year, such as Treasury bills or money market funds.
