What are Furniture and Fixtures

Furniture and fixtures are long term assets which are showed in assets side of balance sheet. These assets are the part of fixed asset and every year, we charged depreciation on these assets. Depreciation is calculated on their useful life and it is deducted from all furniture and fixture's book value for showing written down value in balance sheet.

Now, you can understand the meaning of furniture and fixture. If any part of furniture and fixtures is used in equipment of business, it will be added in equipment instead of furniture and fixture. It will be very helpful for liquidator who will calculate the value of furniture and fixture separately at the time of liquidation of company. In furniture, we generally includes desk, chairs, tables, bench, Cupboard Chest, Stool, Bookcase on Stand, Storage Rack and Doors. Fixture is also that type of furniture which is fixed in specific place and position of building.