fixed asset

(redirected from Long Lived Asset)
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fixed′ as′set

a long-term asset, as a tract of land.
References in periodicals archive ?
Disposal gain from long lived assets and land use right in relation to Fine Silicon
As far back as 1980, he noted, the American Institute of CPAs accounting standards executive committee sent the FASB an issues paper on the subject, Accounting for the Inability to Fully Recover the Carrying Amounts of Long Lived Assets.
The Company officers have not made the certifications required by the SEC with respect to the Company's 2001 Form 10-K, as amended, and related 2001 financial information due to the fact that the Company's adoption of SFAS 144 "Accounting for the Impairment and Disposal of Long Lived Assets," which requires the Company to restate prior period financials to reflect discontinued operations, necessitates a re-audit of the Company's financial statements for the years ended December 2000 and 2001.