Definition of ‘Fixed Assets’
Fixed assets or long term assets have a long life and are for use within the business not for resale. They are assets which are expected to be of value to the business over a number of years, and include such assets as property, buildings, fixtures, fittings, plant and machinery etc.
The cost of the fixed asset is written off as an asset depreciation expense of the business over its useful life.
Financial Projections Template Fixed Assets Definition
The fixed assets definition for use in the financial projections template is the opening fixed assets plus capital expenditure, less depreciation charged for the year.
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