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What is a Fixed Asset?

What is a fixed asset?

The term fixed asset is an accounting concept. It is a classification of certain things that a business buys and impacts: The bookkeeping entries that are required; Business profits; How a business gets tax relief on it; What is a Fixed Asset? A fixed asset is something you buy for your business that generally is … Read more

What is Amortisation?

What is Amortisation?

What is Amortisation? Amortisation is the accounting method of spreading the cost of an intangible asset over a certain period of time which is greater than one year. What is an Intangible Asset? Intangible assets include things such as: Goodwill Patents Trademarks Copyrights Intangible assets have no physical state but is still an asset to … Read more