Book depreciation refers to the method that accountants and businesses use to systematically allocate the cost of tangible assets over their useful lives.
The intangible value inherent in a business apart from its tangible assets, which encompass buildings, land, and fixtures, and also the overall value of a business in its entirety, consisting of all its parts, both tangible and intangible.
Chattel refers to personal property that is tangible and movable, distinguishing it from real estate, which is immovable. It includes items such as furniture, automobiles, and jewelry.
Fixed assets, also known as tangible assets or property, plant, and equipment, are long-term physical assets held by a business for use in its operations and not for sale. These assets provide value to the operations of a company over several years.
Going Concern Value represents the entire value of a business, including not just its tangible assets if liquidated, but also the additional premium it commands for being an ongoing, unified organization with operational business components like customers, existing workforce, market share, and established credit lines.
Hereditaments encompass any property, whether real or personal, tangible or intangible, that may be inherited.
Intrinsic Value refers to the inherent worth of a tangible property, distinguishing it from the perceived or market value. Assets like precious metals, art, and real estate are often evaluated for their intrinsic value due to their tangible desirability and utility.
