‘Fixed Asset’ defines that a long-term touchable part of property that a firm possess and uses in the production of its income and is not predictable to be obsessive or transformed into cash any quicker than at least one year’s time. So that is called fixed assets.
Depreciation Methods: Learning Objectives: What are the various methods for depreciation? Fixed assets differ from each other in their nature so widely that the same depreciation methods cannot be applied to each. The following methods have therefore been evolved for depreciating various assets: Fixed
Balance Sheet: Learning Objectives: Define and explain balance sheet. How is a balance sheet prepared? What are the objectives of preparing a balance sheet? Definition and Explanation: A balance sheet is a statement drawn up at the end of each trading period stating therein