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Are fixed assets the same as plant assets?

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Question ajoutée par Rana Alnajjar , Web developer , Lebcards
Date de publication: 2016/12/11
Abdullah Aziz Eldain Morsi  Elgendy -        CMA  Candidate
par Abdullah Aziz Eldain Morsi Elgendy - CMA Candidate , Regional Receivable Accountant , Amiantit Group of Companies

 the plant assets that have to be  used for  more one  year ,to generate the revenue, it is meaning   reflection of the fixed  assets , like  land ,building ,    machines ,  

Frank Mwansa
par Frank Mwansa , ACCOUNTING LECTURER , FREELANCER

Thanks for invitation 

Properly, plant and equipment (plant assets) are tangible assets with the following properties. Held by the entity for use in the production or supply of goods or services and expected to used during more than one period. Fixed assets or non current assets are expected to used during more than one period. So fixed assets and plant assets can be considered to the same.

Wilfredo Quito
par Wilfredo Quito , Accounting Manager , DDC LAND INC.

 

I use the term fixed assets to mean the same as plant assets. In other words, I believe that both fixed assets and plant assets refer to the assets reported on the balance sheet as Property, Plant and Equipment.

 

Majid Wangade
par Majid Wangade , Senior Accountant , KANTOUR LIMITED COMPANY ( Real Estate, Construction and Asset Management )

No..Fixed are not same as plant asset

 

Waleed Abdul Kader
par Waleed Abdul Kader , مدقق محاسبة رئيسي Senior Auditor، مدير موقع www.f2aw.com , يسري وشركاه لتدقيق الحسابات Youssry & Co Auditing

fixed asset is a main account, plan assets is under fixed assets like equipment, furniture & fixture, vehicles, like that's

Thanks & Regards  

manseer muhammed ali
par manseer muhammed ali , Accountant General , Royal Lighting L.L.C & Royal Furnishing LLC

I believe that both fixed assets and plant assets refer to the assets reported on the balance sheet as Property, Plant and Equipment.

Soliman Abd  ALmalak Gendy
par Soliman Abd ALmalak Gendy , مدير ادارة مراقبة حسابات , الجهاز المركزى للمحاسبات

Fixed assets refers to the long -term assets, tangible assets used in a business that are classified as property, plant and equipment. *A plant asset is an asset with a useful life of more than one year that is used in producing revenue in a business operations

Ahmed Mostafa
par Ahmed Mostafa , Manager, Forensics , KPMG ME

No but the opposite is true

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