What are Capitalizing Assets?Capitalizing assets means you are carrying an asset to the balance sheet. It indicates you purchased an asset, the life of… Read Article
Meaning of Intellectual Property RightsIntellectual property is the creation of the minds of an individual which has commercial and moral value. Intellectual property rights… Read Article
An intangible asset is a useful resource without any physical presence. Patents, copyrights, trademarks, goodwill, etc., are intangible assets. Such assets produce economic benefits,… Read Article
Meaning of Bills PayableBills Payable (B/P) is a liability document that shows the indebtedness of an individual, an organization, etc. When an individual or an… Read Article
Definition of Notes PayableWhen a company issues promissory notes, it maintains the records of the amount of promissory notes issued in a ledger account.… Read Article
Capitalizing versus expensing different costs during the accounting of long-lived assets will have an effect on the company’s profitability, financial ratios, and trends. Both… Read Article
Impairment of long-lived assets is one of the key accounting decisions taken by a company. This decision impacts the company’s profitability, classification of the… Read Article
The balance sheet, also known as the statement of financial position, represents a given company and its financial position at a given date (generally… Read Article
Liabilities: DefinitionLiability is a legal obligation of an individual or a business entity towards creditors arising out of some transactions. A clearer definition of… Read Article