An asset is anything, tangible or intangible, that has economic value to its owner or could have economic value in the future.

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 ...

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, ...

Suppose you buy a major asset like a new piece of machinery. Under standard accounting rules, you cannot write off the cost of the machinery in the year you incur the expense. Rather, you have to ...

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 ...

Cryptocurrency holdings are neither cash nor financial assets, but meet the definition of an intangible asset, at least according to an influential global accounting standards body. The Korea Times ...