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What are fictitious assets in finance?
61 Lectures 1 hours
43 Lectures 33.5 hours
Fictitious assets are the assets which has no tangible existence, but are represented as actual cash expenditure. The main purpose is to create this account for expenses which are not placed in any account headings.
In other words, fictitious means fake or not real, these are not assets at all but they show in financial statements. Expenses incurred in starting a business, goodwill, patents, trademarks, copy rights comes under expenses which cannot be placed any headings.
- Fictitious assets have no physical existence.
- No realisable value.
- They are amortised in one or more profitable financial years.
- Promotional marketing expenses.
- Underwriting commission.
- Preliminary expenses.
- Discount allowed on shares.
- Loss incurred (issue of debentures).
|Capital and reserves||Current assets|
|Long term liabilities|
|Non – current assets|
- What are assets in accounts?
- Real Assets and Financial Assets - What are the differences?
- What are the contingent assets?
- What are Issue Costs in Corporate Finance?
- What are the characteristics of corporate finance?
- What are the types of Finance Functions?
- What is the difference between Real Assets and Financial Assets?
- Finance – What are the types of Real Options?
- What are the Major Implications of the Finance Theory?
- What are the sources of fund in finance and accounting?
- What are the Three Categories of Risk Attitudes in Finance?
- Differentiate between tangible assets and intangible assets.
- What is capital budgeting in finance?
- What is accounting cycle in finance?
- What is Systemic Risk in Finance?