Fixed Assets

How may Church Fixed Assets be categorized/classifeid on the Balance Sheet. They comprise of:


Land & Buildings
Automobiles
Furniture & Fixtures
Eqipment
Altar vessels
Lectern
Vestments,
etc etc

Comments for Fixed Assets

Click here to add your own comments

Aug 27, 2014
Classifying Fixed Assets
by: Lewis in NC

Fixed assets could be classified as "Long-term Assets" vs. "Current Assets". Currents Assets are those which can be converted to cash within a year (approx.); Long-term Assets would take longer than a year to convert to cash. Hope this helps you.

Click here to add your own comments

Join in and write your own page! It's easy to do. How? Simply click here to return to Accounting.

Need a Consultation, help setting up an effective Accounting System, or someone to do your monthly bookkeeping?