The company I worked for bought 5 banners for a total value of the invoice of $1,600.
Can we classify these banners as an fixed asset? According to the company policy a fixed asset should have a value over $1000. If several items are bought in bulk and the invoice is over $1000 is also classified as a fixed asset.

However, I doubt that banners (which are from fabric and represent our goal for next year) can be fixed assets.
Could you please help me to clarify this?

Thank you,

Irina

If the banners will not benefit the company for more than one year then I would prefer to classify it as used materials expenses. Moreover , the value is not material.