Define: Improvement

UK Accounting Glossary

Definition: Improvement


Quick Summary of Improvement


A change in, or addition to, a non-current (fixed) asset that extends its useful life or increases the expected future benefit. Contrast with repair which restores the existing useful life or existing expected future benefit.




What is the dictionary definition of Improvement?

Dictionary Definition



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Full Definition of Improvement



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Improvement FAQ's



Cite Term


To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
https://payrollheaven.com/define/improvement/
Modern Language Association (MLA):
Improvement. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. November 22, 2019 https://payrollheaven.com/define/improvement/.
Chicago Manual of Style (CMS):
Improvement. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/improvement/ (accessed: November 22, 2019).
American Psychological Association (APA):
Improvement. PayrollHeaven.com. Retrieved November 22, 2019, from PayrollHeaven.com website: https://payrollheaven.com/define/improvement/

Definition Sources


Definitions for Improvement are sourced/syndicated from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • BusinessDictionary.com
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 23rd December 2018.