While there was a minor flurry of fixed asset activity surrounding the Economic Stimulus Act of 2008 and its depreciation and tax impact on businesses, the major focus in fixed asset software packages ...

In accounting, net worth is defined as assets minus liabilities. Essentially, it is a measure of what an entity is worth. For an individual, it represents the properties owned, less any debt the ...

Accounting for stuff like office supplies is simple. You spend $50 on copier paper, and you record a $50 expense in your ledger. Purchasing fixed assets such as land, buildings or equipment is more ...

What Is Financial Accounting Standard 157 (FAS 157)? Financial Accounting Standard 157 (FAS 157) is the Financial Accounting Standards Board (FASB)’s controversial fair value accounting standard, ...

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 ...

Bitcoin might be the most recognizable cryptocurrency, but it’s hardly the world’s only digital asset. Generally, a digital asset is a “digital record made using cryptography for verification and ...

Learn how the lower of cost or market (LCM) method helps value inventory accurately by using the lesser of historical cost or market value, key for GAAP compliance.