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Fictitious assets-fictitious assets are deffered revenue expenditure whose benefit is derived over long period of time.Even accumalated losses are also fictitious assets as they are written off over a period of time.All fictitious assets are intangible but all intangible assets are not fictitious.ex goodwill.patents,trademarks,copyrights are intangible but not fictitious.following are the examples of fictitious assets are-preliminary expenses,discount on issue on debenture and shares,underwriting commission,miscellaneous expenditure,profit and loss(dr).
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What is the d ifference between Fictitious assets and Intangible Asset?
Intangible assets are basically fixed assets that have no physical status (e.g. goodwill, patentright,copyright etc) . The Intangible assets are written off after a specified period. Fictitious assets also have no physical existence but they only include the assets having the nature of deffered revenue expenditures (e.g. deffered advertisement expenses, discount on issue of shares or debentures).
What is the difference between rent and royalty?
Rent is the consideration payable for the use of tangible assets i.e. Building and machinery etc. Royalty is the consideration payable for the use of special right in a tangible or intangible asset.
What is intangible cost?
intqngible assets whats is cost for licensed, bonds insurances etc?
What are the internal resources of a business?
internal resource are tangible assets , intangible assets and organizational capabilites. tangible assets are most easily identified assets often found on a firm's balancesheet. they include production facilities, raw materials, financial resources, real estate and computers. intangible assets are firm's assets that you can not touch or see but that are very often critical in creating competitive advantages :brand names, company reputation, organizational moral, technical knowledge, patent and trade mark. organisational capability are skills( the ability and ways of combining assets, people and process) that a company usesvto transform inputs into outputs.
What is the property and possessions that have a value?
Property and possessions that have value typically include real estate, vehicles, jewelry, artwork, and financial assets such as stocks and bonds. These items can be tangible or intangible, with tangible assets being physical objects and intangible assets representing ownership rights or intellectual property. Their value can be assessed based on market demand, condition, and potential for appreciation. Overall, they are significant as they contribute to an individual or entity's wealth and financial stability.
What is the d ifference between Fictitious assets and Intangible Asset?
Intangible assets are basically fixed assets that have no physical status (e.g. goodwill, patentright,copyright etc) . The Intangible assets are written off after a specified period. Fictitious assets also have no physical existence but they only include the assets having the nature of deffered revenue expenditures (e.g. deffered advertisement expenses, discount on issue of shares or debentures).
What is the difference between tangible assets and intangible assets?
We can feel tangible asset,where as we cannot feel intangible asset
What is the difference between a tangible and intangible asset?
Tangible Assets: These are those assets which have physical existence and which can be seen by naked eyes or has feeling. Intangible Assets: These are reverse from tangible assets as these have no physical existence and nobody can see them with eyes.
Why in internal reconstruction capital reduction account is being prepared?
it is prepared so the amount reduced will be utilised in writing of fictitious assets, some intangible assets and the over valued portion of fixed assets
Types of intangible assets?
1 - Goodwill 2 - market related intangible assets 3 - Customer related intangible assets 4 - Contract related intangible assets 5 - Artistic related intangible assets 6 - Technology related intangible assets
Intangible assets are depreciated or not?
Intangible assets are subject to devaluation not depreciation.
What is the difference between amortization and depreciation?
Amortization usually refers to spreading an intangible asset's cost over that asset's useful life. Depreciation, on the other hand, refers to prorating a tangible asset's cost over that asset's life.Depreciation Is Applicable only on Fixed & Tangible Assets Which Depends on useful life of that assets that may be expected accurately but Amortization applicable on Intangible Assets whose life is very critical to be measured.DEPRECIATION is calculated for tangible assets while AMORTIZATION is calculated for intangible assets.
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 equity and assets in financial terms?
In financial terms, equity represents the ownership interest in a company, while assets are the resources owned by the company. Equity is the difference between a company's assets and liabilities, reflecting the net worth of the business. Assets, on the other hand, are the tangible and intangible resources that a company owns and can use to generate revenue.
Banks Tangible and intangible resources?
Tangible assets for a bank include all assets after making deductions for goodwill and intangible resources. Intangible assets have no physical properties.
Is intangible assets a debit or credit?
Intangible assets are also assets like any other assets so if all other assets have debit as a default balance then intangible assets also have debit as default balance. Like Goodwill etc.
Does depreciation is charged on intangible assets?
Depreciation is charged to tangible assets while amortization is used to charge intangible assets.
