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 ...

These are examples of assets not normally easily disposed of. Key Takeaway: Formally, if an asset isn't expected to be cashable within a year, it isn’t considered a current asset. In business, a ...

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 ...

TO PROVIDE BUSINESSES WITH GUIDANCE ON WHEN and how to recognize a liability for asset retirement obligations, FASB issued Statement no. 143, Accounting for Asset Retirement Obligations. The statement ...

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.

While your company focuses on selling your products or services to make money, you may take for granted the hardware that streamlines this process. But equipment is more than just a fixture within ...

The Governmental Accounting Standards Board is considering changes in the financial reporting rules for infrastructure assets and is looking for feedback. Processing Content GASB issued a preliminary ...