Finance & Accounting

Fixed Assets Glossary

Terms for recording, tracking and retiring long-term company assets.

5 terms · Updated 12 November 2026

A2 terms

Selling, scrapping or retiring an asset and recording the resulting gain or loss.

A master list of all company assets with their cost, location and status.

Recording a purchase as an asset rather than an expense because it benefits the business for years.

The estimated worth of an asset at the end of its useful life.

The expected number of years an asset will be used by the business.

A working session with the team that builds Bigsun ERP, using your own business processes.