Define, classify, and account for the cost of fixed assets. Nature of fixed assets: classifying costs the cost of fixed assets capital and revenue expenditures leasing fixed assets B) Describe the accounting for intangible assets, such as patents, copyrights and goodwill Intangible assets Patents copyrights and trademarks c) Describe how depreciation expenses is reported in an income statement and prepare a balance sheet that includes fixed assets and intangibles assets Financial reporting for fixed assets and intangible assets d) Describe and illustrate the fixed asset turnover ratio to assess the efficiency of a company's use of its fixed assets. Financial analysis and interpretation: fixed asset turnover ratio.?