Impairment of Long Lived Assets

Impairment of Long-Lived Assets

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
Meaning and Types of Liabilities

Meaning and Types of Liabilities

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
owner's equity

Owner’s Equity

Owner’s Equity: MeaningIn simple terms, the definition of owner’s equity can be stated as “A part of the total value of a company’s assets… Read Article