Fixed assets, also known as property, plant and equipment, are usually expensive items that last long term, such as real estate, heavy equipment and furniture. Accountants in charge of this area of a ...

An asset is counted as retired when it is permanently removed from service. Asset retirement can occur in processes such as a sale to another party or disposal due to obsolescence. Since long-term ...

Discover how modified accrual accounting merges accrual and cash basis methods, its key principles, and why it's preferred by government agencies for accurate financial reporting.

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 ...

Learn how to identify creative accounting practices that manipulate balance sheets, impacting assets, liabilities, and equity for perceived financial performance.

Mergers and acquisitions are an important way that growing companies get bigger, and structuring a deal in the best interests of both the acquirer and the target is critical to getting a transaction ...

Specifically, digital assets: Are indefinite-lived as they have no prescribed life. This means companies initially record digital assets at their acquisition cost and, thus, subject them to annual and ...

Please note: This item is from our archives and was published in 2021. It is provided for historical reference. The content may be out of date and links may no longer function. Accounting for and ...