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Furniture, fixtures, and equipment (or FF&E) (sometimes Furniture, furnishings, and equipment [ 1][ 2]) is an accounting term used in valuing, selling, or liquidating a company or a building. FF&E are movable furniture, fixtures, or other equipment that have no permanent connection to the structure of a building or utilities. [ 3] These items ...
An asset depreciation at 15% per year over 20 years. In accountancy, depreciation is a term that refers to two aspects of the same concept: first, an actual reduction in the fair value of an asset, such as the decrease in value of factory equipment each year as it is used and wears, and second, the allocation in accounting statements of the original cost of the assets to periods in which the ...
Development. Misconduct. v. t. e. A fixed asset, also known as long-lived assets or property, plant and equipment ( PP&E ), is a term used in accounting for assets and property that may not easily be converted into cash. [ 1] Fixed assets are different from current assets, such as cash or bank accounts, because the latter are liquid assets.
t. e. Cost accounting is defined by the Institute of Management Accountants as "a systematic set of procedures for recording and reporting measurements of the cost of manufacturing goods and performing services in the aggregate and in detail. It includes methods for recognizing, allocating, aggregating and reporting such costs and comparing ...
Franchise agreements. Like depreciation, amortization involves writing off an asset’s initial cost over the course of the asset’s useful life. In this case, the asset’s value is divided ...
e. International Accounting Standard 16 Property, Plant and Equipment or IAS 16 is an international financial reporting standard adopted by the International Accounting Standards Board (IASB). It concerns accounting for property, plant and equipment (known more generally as fixed assets ), including recognition, determination of their carrying ...
In accounting, book value is the value of an asset [ 1] according to its balance sheet account balance. For assets, the value is based on the original cost of the asset less any depreciation, amortization or impairment costs made against the asset. Traditionally, a company's book value is its total assets [clarification needed] minus intangible ...
Misconduct. v. t. e. In accounting, amortization is a method of obtaining the expenses incurred by an intangible asset arising from a decline in value as a result of use or the passage of time. Amortization is the acquisition cost minus the residual value of an asset, calculated in a systematic manner over an asset's useful economic life.