Accounting uses a lot of abbreviations. GL for general ledger, DR for debit, CR for credit are examples. Fixed asset accounting is no exception. Fixed assets are used frequently in financial analysis ...

Intangible assets include operational assets that lack physical substance. For example, goodwill is a fixed asset, as are patents, copyrights, trademarks and franchises. A company's intangible assets ...

Assets refer to resources that can be converted into cash. Learn how assets work, the various types of assets, how to determine an asset's value and more.

Fixed assets and depreciable assets are two very closely, interrelated items on a company's balance sheet. Let's define each and describe how they are the same and subtly different. A fixed asset is ...

When companies buy big ticket items like buildings, machinery, or vehicles, accountants are not necessarily required to keep those assets on the books in a specific way. There are rules, of course, ...

A financial statement that lists the assets, liabilities and equity of a company at a specific point in time and is used to calculate the net worth of a business. A basic tenet of double-entry ...

Fixed asset impairment occurs when asset market value drops below its book value. To detect impairment, compare asset's book value against its recoverable amount. If impaired, reduce book value on ...