The University of Virginia Medical Simulation Center is a state-of-the art multidisciplinary training and research facility. As a cornerstone of The Universityâs technologically enhanced learner-centered approach to medical education, the center complements traditional teaching modes with the application of knowledge and skills through experiential learning for the UME, GME, and community populations.
Definition: A capital asset is property that is expected to generate value over a long period of time. Capital assets form the productive base of an organization. Examples of capital assets are buildings, computer equipment, machinery, and vehicles.
Fixed Asset. Definition: A fixed asset is an item with a useful life greater than one reporting period, and which exceeds an entity's minimum capitalization limit. A fixed asset is not purchased with the intent of immediate resale, but rather for productive use within the entity. An inventory item cannot be considered a fixed asset, since it is purchased with the intent of either reselling it directly or incorporating it into a product that is then sold. The following are examples of general categories of fixed assets: 1  Buildings. 2  Computer equipment.