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Difference between inventory and fixed assets?
fixed assets are long term assets which used by business for revenue generation while inventory is current asset used for one fiscal year.
How computers are used in the organisation?
it depends, if you are a dealer (of computer) then it will treated as inventory or else its an Fixed assets
How do you verify fixed assets?
Fixed Assets are verified as a part of a complete audit which is advisable to do on a yearly basis. A full inventory not only of product but also of fixtures must be done as a part of this process.
Accounting entry for capitalization of inventory as fixed assets?
Debit Depreciation Expense Credit Accumulated Depreciation
What is inventory to asset ratio?
amount of your assets that are ties up in inventory, Inventory/Assets x 100
What are the differences between fixed assets and other assets in terms of their characteristics and accounting treatment?
Fixed assets are long-term assets that are used in the operations of a business, such as buildings and equipment, while other assets are typically short-term assets like cash and inventory. Fixed assets have a physical form and are not easily converted to cash, while other assets are more liquid. In terms of accounting treatment, fixed assets are recorded on the balance sheet at their historical cost and depreciated over their useful life, while other assets are typically recorded at their current market value.
What are Examples of financial assets that are traded?
Financial assets are tangible and intangible assets. while tangible assets are include both fixed assets, such as machinery, buildings and land, and current assets, such as inventory. ... Nonphysical assets, such as patents, trademarks, copyrights, goodwill and brand recognition, are all examples of intangible assets.
Is gross block current assets or fixed assets?
fixed assets
What are maturity of fixed assets?
maturity of fixed assets means the completion of useful life of fixed assets.
What is the purpose of identifying it assets and inventory?
The purpose of identifying assets and inventory is so the value of the company can be accurately reflected. Assets and inventory need to be known for tax purposes.
Fixed assets to current asset ratio?
fixed assets / current assets
What is difference between fixed asset and non current asset?
Current asset appears first in the balance sheet such as cash, accounts receivable and inventory. Fixed assets are those such as land, buildings, vehicles, furnitures, office equipments. In short, fixed assets are also known as non-current asset. It can also be known as capital assets or plant, property and equipment.
