An asset is anything, tangible or intangible, that has economic value to its owner or could have economic value in the future.

Accounting divides your company assets into two classes: current and long-term. Current assets include cash and anything you use up or convert to cash over the next 12 months. Typical examples are ...

Patenting an invention is something to be proud of. From your accountant's perspective, a patent isn't merely an achievement; it's either an asset or an expense. Like copyright and other intangible ...

Discover what inventory means, its essential types like raw materials and finished goods, and strategies for effective inventory management to enhance your business’s efficiency.

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The University defines capital equipment as tangible personal property with a useful life greater than one year with an individual or componentized cost of $5,000 or greater. The equipment can be ...

The new standard aims to improve accounting treatment of certain digital assets under GAAP and may pave the way for increased institutional adoption. On September 6, 2023, the Financial Accounting ...

The Financial Accounting Standards Board published an accounting standards update Wednesday with optional guidance on the measurement of credit losses for accounts receivable and contract assets. The ...

The first U.S. accounting rule specifically for cryptocurrency will say that companies must use a fair-value approach that would demand certain digital assets be measured at what they would trade for ...