Posts tagged Asset

Classifying transactions into accounts is a crucial step in the accounting process. Asset and liability transactions are the biggest portion of the whole accounting data. Classifying …

For the purpose of fair value measurements, “inputs” are the assumptions that market participants would use in pricing an asset or liability, including assumptions regarding …

Asset disposal accounts are like miniature profit & loss accounts: they are final accounts, and not going on any further. Once written up, with their …

The most important element in successful “fixed asset management” is a comprehensive single record of all the information necessary about each individual physical asset. This …

This post lists set of ratios and formulas that can be derived primarily from the income statement. There are several that require additional information from …

Generally the most significant non-current asset in terms of value is a company’s investment in property and equipment. These are the assets that companies commit …

In a financial report, the income statement may seem like a tub standing on its own feet, disconnected from the balance sheet and the statement …

Generally, all things that have a similar life, are acquired together, and are used together should be a single base unit. However, the ability to …

Establishing the exact level of detail that is appropriate for a particular business is difficult. It will also vary by asset categories. For some categories …

In establishing the list of base units for your organization, make decisions using specific criteria. The estimated life of a base unit and its components …

In establishing a consistent asset policy, the determination of base units is of prime importance. The base unit is the smallest asset component. It is …

BALANCE SHEET Each framework requires prominent presentation of a balance sheet as a primary statement.   Format IFRS: Entities present current and non-current assets, and …