Definition
Fixed asset means all assets, whether obtained from other enterprises or produced by the establishment out of its resources for its own use, which are expected to have a productive life of more than one year. It consists of land, buildings and other construction, plant and machinery, tools and equipment, computer and software, vehicles, furniture, and other etc.
Under “fixed assets” eight type of information need to compute the value of fixed assets at the end of the reference period. By subtracting sale of fixed assets, loss of assets due to catastrophe and depreciation to the sum of fixed assets at the beginning with the gross addition of assets during the reference period.
LAND: It means covered and open area at establishment location. Agricultural land including land acquired for gaining sand, clay, etc. if connected with the establishment are excluded. Cost of land purchased
plus premium paid for leased land and additions, alterations and improvements made there on are shown separately.
Improvement to land: It Includes value of improvements made (i.e. by raising, filling-up, digging, leveling, etc. of land) in the inquiry period. Such value will be recorded under new addition.
