Fixed Assets:
- Definition: Tangible assets held for use in the production of goods, provision of services, for administrative purposes, or to be rented to third parties, and which have a useful life of more than one year.
- Minimum value: Under current Romanian legislation, assets with an acquisition value of at least 2,500 lei and a useful life of more than one year are classified as fixed assets.
- Accounting accounts used: 2131, 2132, 2133 (for tangible fixed assets), 281 (depreciation of fixed assets).
- Depreciation: Depreciated over the useful life using a chosen depreciation method (straight-line, declining balance, or accelerated).
- Examples: Buildings, machinery, equipment, furniture, IT equipment with a value above 2,500 lei.
Inventory Items:
- Definition: Assets that do not meet the criteria to be considered fixed assets, having either a value below 2,500 lei or a useful life of less than one year.
- Value: Below 2,500 lei (current value per OMFP 1802/2014).
- Accounting accounts used: 303 (Inventory Items), 603 (Expenses related to inventory items).
- Depreciation: Not depreciated; instead, they are expensed at the time of being put into use, although they are tracked through inventory records.
- Examples: Mobile phones, computers with a value below 2,500 lei, small tools and implements, inexpensive furniture, peripheral equipment.