In today's digital era, websites have become an indispensable tool for businesses and individuals alike. They serve as virtual storefronts, communication platforms, and information hubs. As the importance of websites continues to grow, the question arises: Is website development considered a fixed asset? Let's delve into this intriguing topic and explore the various perspectives. To understand whether website development qualifies as a fixed asset, we must first grasp the concept of fixed assets. Fixed assets, also known as property, plant, and equipment (PP&E), are long-term assets that hold enduring value and are essential for business operations. Examples of fixed assets include buildings, machinery, and vehicles. In traditional accounting practices, fixed assets are tangible physical items that are subject to depreciation over time. However, with the advent of digitalisation, the line between tangible and intangible assets has become blurred. This has led to debates
Comments
Post a Comment