The GAAP approves four different methods for depreciating business assets: the straight-line method, the units of production method, the declining balance method and the sum-of-the-year's-digits ...

Intangible assets are resources owned by a company that have value but no physical form. Common intangible assets within a company include patents, trademarks, goodwill and franchise licenses.

One of the consequences of generally accepted accounting principles is that while cash is used to pay for a long-lived asset, such as a semi-trailer to deliver goods, the expenditure is not listed as ...

When a business acquires an asset to be used in its operations, the cost of the asset is generally not expensed all at once. Rather, the cost is depreciated over a period of time that depends on the ...

Steven Nickolas is a writer and has 10+ years of experience working as a consultant to retail and institutional investors. Charlene Rhinehart is a CPA , CFE, chair of an Illinois CPA Society committee ...