Machinery is called the plant asset which is utilized to make production of units of product to earn revenue.
A plant asset is an asset such as land, buildings, and machinery that will be useful for more than one year and is used to help produce revenues for a business. Plant assets are also known as fixed assets. Revaluation of plant/fixed assets is the process of increasing or decreasing their carrying value in the event of major changes in the fair market value of the assets.
NO
Some assets lose its value like plant and machinery as they lose its power and they are known as fixed assets
included in the cost of a plant assets
plant assets comes under non current assets. now non current assets are those which are not easily feasible in cash like land, building or other fixed properities.
In accounting, inventory is considered a "for sale" asset, plant assets are not.
A plant asset is an asset such as land, buildings, and machinery that will be useful for more than one year and is used to help produce revenues for a business. Plant assets are also known as fixed assets. Revaluation of plant/fixed assets is the process of increasing or decreasing their carrying value in the event of major changes in the fair market value of the assets.
NO
Plant Assets are included in this.
Some assets lose its value like plant and machinery as they lose its power and they are known as fixed assets
Real assets are physical assets such as plant, machinary, vehicles, stock/ inventory. Financial assets, are cash, bonds, shares etc., etc.
current assets; long-term investments; property, plant, and equipment; and intangible assets.
Objective of assets is to utilized them for earning revenue for business like plant and machinery etc.
included in the cost of a plant assets
plant assets comes under non current assets. now non current assets are those which are not easily feasible in cash like land, building or other fixed properities.
Plant assets only have a limited usage and in order to calculate the life of an asset, you must depreciate the asset according to it's useful life minus salvage value.
Machinery, land and building are normally comes under head of plant.