An asset entry recorded on the balance sheet of a business that has value to the business, but that does not correspond to a real asset or have a resale value. Fictitious assets are used to keep track of assets that cannot be recorded under normal accounting categories, such as prepayments or deferred revenues.
Related information about fictitious asset:
- What is fictitious asset? - BusinessDictionary.com
Definition of fictitious asset: Asset created by an accounting entry (and included under assets in the balance sheet) that has no tangible existence or realizable ...
- What is fictitious asset? definition and meaning - InvestorWords.com
Definition of fictitious asset: An asset entry recorded on the balance sheet of a business that has value to the business, but that does not correspond to a real ...
- What is the Fictitious assets?
Jun 15, 2006 ... fictitious asset is not a asset...its a heavy expenditure when a ... The purpose of creating a fictitious asset is to account for expenses (such as ...
- What Is a Fictitious Asset?
A fictitious asset is an accounting entry that does not correspond to a tangible asset and is not an intangible asset. These assets are not really assets at all.
- FICTITIOUS ASSET DEFINITION
FICTITIOUS ASSET is debit balance includes on balance sheets as assets that do not conform to the definition of an asset. Intentional includes of assets known ...
- What is FICTITIOUS ASSET? - The Law Dictionary
Definition of FICTITIOUS ASSET: An asset made by accounting tha is not tangible but represents cash. It creates a fake asset that is written off ASAP.
- Is goodwill a fixed asset or fictitious asset
Is goodwill a fixed asset or fictitious asset? In: Business Accounting and Bookkeeping, Business Finance, Accounts Payable [Edit categories]. Answer: Goodwill ...
- What Are Fictitious Assets? | eHow.com
A common example of a fictitious asset is business start-up costs. ... Goodwill -- although a fictitious asset -- is typically an intangible asset for recording purposes ...