Asset Balance Sheet Categories

The following list of categories appears on your Agrimaster Balance Sheet. Selecting the appropriate Balance Sheet category allows the asset to be included in the Balance Sheet Report accurately. 

The definitions in the table may assist you in selecting the appropriate category for the asset you are adding. They are provided as a guide only. We recommend you discuss with your accountant to ensure the information is relevant to your situation. 

Balance Sheet Category




A permanent or temporary structure enclosed within exterior walls and a roof, and including all attached apparatus, equipment, and fixtures that cannot be removed without cutting into ceiling, floors, or walls.

Fitting and Fixtures


There is no legal definition of what constitutes fixtures and what constitutes fittings, however, it is generally considered that ‘fixtures’ are items that are firmly secured or bolted to the walls or floor and ‘fittings’ are free standing items but still belong to the building.


  • Central-heating boilers and radiators.
  • Sinks, baths, lavatories.
  • Kitchen units or other items of furniture bolted to the floor.
  • Wardrobes that are made to fit a particular space and would be incomplete if removed, for example, if they use a wall to form one of their sides.
  • Wall paintings/Murals.
  • Light fitments.
  • Woodstove (built-in).


  • Electric stove (not built-in).
  • Paintings or mirrors that are hung or screwed to a wall.
  • Carpets.
  • Curtains and curtain rails.
  • Free-standing ovens, refrigerators and washing machines.
  • Lampshades.
  • Television aerials and satellite dishes.



An intangible asset is defined as something that provides a competitive advantage, such as a strong brand or reputation. In an acquisition, goodwill appears on the balance sheet of the acquirer in the amount by which the purchase price exceeds the net tangible assets of the acquired company.


Something of value that cannot be physically touched, such as a brand, franchise, trademark, or patent.



An area of ground, especially one that is used for a particular purpose such as agriculture, including things permanently attached by nature, such as trees, geological features and water.



Cattle, horses, poultry, and similar animals kept for domestic use but not as domestic pets.

Motor Vehicles

Any motor car, motor carriage, motorcycle.



Other assets are assets that don't fit into any other category. Assets of relatively small value.  Firms frequently combine small assets into a single category for financial reporting purposes rather than listing each item separately.

This balance sheet classification covers minor assets such as prepaid expenses and scrap value of obsolete equipment.

Plant and Equipment

Assets of a durable nature that are used to provide current and future economic benefits to the business.

  • Computers and all kinds of office furniture and equipment.
  • Vans, trucks, cranes and diggers.
  • ‘Integral features’ of a building or structure.
  • Other building fixtures, such as shop fittings, kitchen and bathroom fittings.
  • All kinds of business machines, such as printing presses, lathes and tooling machines.
  • Tractors, combine harvesters and other agricultural machinery.
  • Gaming machines, amusement park rides.
  • Computerised /computer-aided machinery, including robotic machines.
  • Wind turbines and fibre optic cabling.



This classification covers property purchased by the business outside normal business use e.g. rental or investment properties.

Trading Stock

Trading stock is defined as including 'anything produced, manufactured or acquired that is held for purposes of manufacture, sale or exchange in the ordinary course of a business.' (

Stock held by the business for sale to its customers.

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