In accounting, inventory is considered a "for sale" asset, plant assets are not.
Real assets are physical assets such as plant, machinary, vehicles, stock/ inventory. Financial assets, are cash, bonds, shares etc., etc.
hard assets (plant and inventory)
A cell wall is the primary distinction between plant and animal cells.
Plant 2000 allows more items in inventory; Plant 2001 allows fewer items in inventory
Current asset appears first in the balance sheet such as cash, accounts receivable and inventory. Fixed assets are those such as land, buildings, vehicles, furnitures, office equipments. In short, fixed assets are also known as non-current asset. It can also be known as capital assets or plant, property and equipment.
To calculate total assets, sum all current and non-current assets of a company. Current assets include cash, accounts receivable, inventory, and other assets expected to be converted to cash within one year. Non-current assets encompass long-term investments, property, plant, equipment, and intangible assets. The formula is: Total Assets = Current Assets + Non-Current Assets.
In GCSS-Army, the key difference between Plant 2000 and Plant 2001 lies in their operational focus and capabilities. Plant 2000 is primarily designed for managing maintenance and supply chain operations, while Plant 2001 emphasizes logistics and inventory management functionalities. This distinction allows organizations to tailor their processes more effectively based on specific needs within the Army's supply chain and maintenance frameworks.
plant assets comes under non current assets. now non current assets are those which are not easily feasible in cash like land, building or other fixed properities.
Physical assets are plant, machinery, tools, land, building e.t.c where as financial assets include cash, shares, bonds, marketable securites, financial assets are used to purchase Physical asstes.
Organizations typically categorize their assets into several key groups: Current Assets: These are short-term assets expected to be converted into cash within a year, including cash, accounts receivable, and inventory. Fixed Assets: Long-term assets used in operations, such as property, plant, equipment, and vehicles. Intangible Assets: Non-physical assets like patents, trademarks, copyrights, and goodwill that provide value over time. Financial Assets: Investments in stocks, bonds, or other financial instruments that represent ownership or creditor relationships.
Assets have of two types Current Assets Non-Current/ Fixed Assets Current Assets are those which company utilizes in one fiscal year for example, material, Fixed assets are those assets which company utilizes for more than one fiscal year for example, machinery, plant, equipment etc
Physical assets are those assets which put company to earn or produce units to earn revenue like machinery, plant, equipment etc. Financial assets are like shares or debentures purchased in other company.