13 November 2008
DEAR EXPERTS WE ARE CONSTRUCTION HOUSE WE HAVE PURCHASED A DG SETS OF SITE OFFICE FOR RUNNING OUR SITE OFFICE OPERATION WHEATHER WE HAVE TO TAKES ITS AS FIXED ASSETS OR ITS PART OF CWIP. PLEASE GUIDE ME WITH SOME LITTLE EXPLANATION.
17 November 2008
FIXED ASSETS are those assets of a permanent nature required for the normal conduct of a business, and which will not normally be converted into cash during the ensuring fiscal period. For example, furniture, fixtures, land, and buildings are all fixed assets. However, accounts receivable and inventory are not. Sometimes called PLANT.
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