When a company purchases an asset it does not expect the asset to retain its current value forever. Instead, the company expects the asset to depreciate, or loose some of its value over time.
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What is depreciation? How it works and why it matters
What is depreciation? Learn how it works, the main methods and how it impacts your business taxes and accounting.
Posting depreciation means to account for depreciation using the proper journal entries. Companies must depreciate their assets annually. Depreciating assets will match the cost to purchase the asset ...
Daniel Liberto is a journalist with over 10 years of experience working with publications such as the Financial Times, The Independent, and Investors Chronicle. Eric's career includes extensive work ...
TO PROVIDE BUSINESSES WITH GUIDANCE ON WHEN and how to recognize a liability for asset retirement obligations, FASB issued Statement no. 143, Accounting for Asset Retirement Obligations. The statement ...
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