Fixed asset register

A fixed asset register (FAR) is an accounting method used for major resources of a business or it can be defined as a statement of an organisation which shows the assets that it owns and these examples of assets are listed below.

Fixed assets are those such as land, machines, office equipment, buildings, patents, trademarks, copyrights, etc. held for the purpose of production of goods or rendering of services and are not held for the purpose of sale in the ordinary course of business.