óstaðfestar

Óstaðfestar, also known as "fixed assets," are tangible items that a business owns for use in its operations. These assets are typically long-term in nature and have a useful life of more than one year. Examples of óstaðfestar include buildings, machinery, vehicles, and equipment. They are recorded on the balance sheet at their historical cost, which is the amount paid for the asset plus any costs incurred to bring it to its current condition. The value of óstaðfestar is depreciated over their useful life, reflecting the wear and tear or obsolescence of the asset. This depreciation expense is recognized in the income statement and reduces the book value of the asset on the balance sheet. When an asset is sold or its useful life is exhausted, the remaining book value is recorded as a gain or loss in the income statement. Óstaðfestar are crucial for businesses as they contribute to the production of goods and services, and their proper management is essential for financial health and strategic planning.