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 ...

Learn what basis value is, how to calculate it, and see examples to understand its role in reducing tax burdens on fixed ...

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 ...

Discover the key differences between fixed and variable overhead costs and their impact on business operations. Learn how to ...

Portions of this article were drafted using an in-house natural language generation platform. The article was reviewed, fact-checked and edited by our editorial staff. You may have heard financial ...

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 ...

For the last nine fiscal years, the University Community has been asked to utilize the Fixed Asset Confirmation Tool to complete the annual fixed asset confirmations process. On Wednesday, June 11, ...

From nimble startups to established, multigenerational enterprises, I’ve had the privilege of financially guiding a diverse array of businesses. Across all these experiences, one pattern stands out: ...

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 ...