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Unformatted text preview: buildings, machinery, office equipment, vehicles, furniture and fixtures used in a business. Also included in property, plant and equipment is the accumulated depreciation for these assets (except for land, which is not depreciated). 4. Intangible Assets: Intangible assets are something of value that cannot be physically touched, such as a trademark, patent, brand, etc. 5. Other: Miscellaneous assets and liabilities that do not fit in any of the other categories. The classified balance sheet is extremely important in making financial decisions. Perhaps a company is asked to make a loan or lease property to another company. Their classified balance sheet is their roadmap for success and informs management of the companys financial ability to make the loan, lease the property, purchase equipment, or alerts them to their inability to enter into such a transaction. ACC220...
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- Summer '09