leasehold improvements definition

leasehold improvements

Additions, alterations, remodeling, or renovations performed on a leased property. For accounting purposes, all leasehold improvements are capitalized (recorded as an asset with a corresponding liability) and amortized over the remaining life of the lease term or the life of the improvement (whichever is shorter). Upon termination of the lease, such improvements normally become the property of the owner (lessor) without any cost or obligation.

leasehold improvements is in the Accounting & Auditing, Banking, Commerce & Finance and Real Estate & Buildings subjects.

leasehold improvements appears in the definitions of the following terms: fixed asset, net fixed assets and property, plant, and equipment

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