Capital assets are assets for continuing use in the business, such as property, plant, machinery and office equipment. Also known as fixed assets.
Assets that meet the state's capitalization policy such as land, improvements to land, easements, buildings, leasehold improvements, vehicles, machinery, equipment, works of art and historical treasures, infrastructure, and all other tangible or intangible assets that are used in state operations and that have initial useful lives extending beyond one year. Capital assets do not include depletable resources such as minerals or timber.
Tangible or intangible assets that are capitalized under an institution's capitalization policy; some of these assets are subject to depreciation and some are not. These assets consist of land and land improvements, buildings, building improvements, machinery, equipment, infrastructure, and all other assets that are used in operations and that have initial useful lives extending beyond one year. Also includes collections of works of art and historical treasure and library collections; however under certain conditions such collections may not be capitalized. Includes property acquired under capital leases and intangible assets such as patents, copyrights, trademarks, goodwill, and software. Excluded are assets that are part of endowment funds or other capital fund investments in real estate.
Land, buildings, plant, equipment and other assets acquired for carrying on the business of a company with a life exceeding one year. Assets are normally expressed in financial accounts as cost minus accumulated depreciation.
Assets of significant value and having a useful life of several years. Capital assets are also called fixed assets.
Land and buildings (including any interest in land, and leasehold buildings), and items of equipment and other movable and immovable assets.
Fixed assets of long-term standing, viz. Land, buildings, equipments, furniture and fixtures.
Include long-term tangible assets, such as plant and equipment, and intangible assets, such as patents. Capital assets are expected to provide benefits for more than one period. (Chapter 4) Assets used in the operations of a company that have a useful life of more than one accounting period; also known as fixed assets, or property, plant and equipment. (Chapter 12)
Any property held by the taxpayer except those held for the purpose of sale to customers during the ordinary course of business.
This term refers to buildings, equipment, etc. which are not consumed or used up in the normal operating process.
Generally, everything you own for personal purposes or investment is a capital asset. This includes your home, personal car, or stocks and bonds. It does not include inventory or depreciable property.
Depreciable property, plant, equipment, and software developed, manufactured, transferred or acquired at a specific point in time for a determined cost of $50,000 or more; are used over some period (useful life), the length of which to be two years or greater; and generally, become economically worthless (except for residual value) at the end of their estimated useful lives.
Assets of a permanent nature used to produce income, such as buildings, equipment, land and so on.
Also called fixed assets. Tangible items used in the operation of a business but not consumed in the course of that operation. (Some examples include a company's buildings or the machinery with which a product is made.)
A tax determination for assets that generally requires an extended holding period prior to sale or exchange. Capital assets are normally subject to more favorable tax treatment.
Long-lived tangible assets obtained or controlled as a result of past transactions, events or circumstances. Capital assets include buildings, equipment, improvements other than buildings, land and infrastructure. In the private sector, these assets are referred to most often as property, plant and equipment.
Tangible property used in the operations of a business, but not expected to be consumed or converted into cash in the ordinary course of events. They are normally represented on the balance sheet at their net book value.
Assets purchased for use over long periods of time, such as land and buildings, rather than for resale and can be fixed assets consisting of tangible assets such as plants and equipment and intangible assets, such as patents.
Any assets that are not (1) inventory in a trade or business, (2) depreciable personal or real property, (3) certain works created through the personal effort of the taxpayer, (4) business accounts and notes receivable, and (5) certain U.S. publications. Depreciable personal property and real property are subject to special rules for measuring the amount of any gain or loss but they are similar to those of other kinds of capital assets.
Assets used in the production of income. Examples: equipment and machinery.
Equipment, property, and funds owned by a business.
Assets of a permanent nature used to produce income, such as machinery, buildings, equipment, land, etc. Must be distinguished from inventory. A machine which makes pencils, for example, would be a capital asset to a pencil manufacturer, but inventory to the company whose business is to sell such machines.
Physical assets such as land, building and equipment, usually for a business or trade. Capital assets other than land may be depreciated.
