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

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 ...

Discover what inventory means, its essential types like raw materials and finished goods, and strategies for effective inventory management to enhance your business’s efficiency.

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 ...

Goodwill in accounting and investing is a term used to describe intangible assets that don't appear in hard numbers on a balance sheet. These can include a host of things that companies tend to value ...