In accrual basis accounting, when your business purchases a long-lived asset, such as a vehicle, a building or a piece of equipment, you don't immediately write off the full cost as an expense. Rather ...

Accelerated depreciation allows businesses to write off the cost of an asset more quickly than the traditional straight-line method. This can provide asset owners with potentially valuable tax ...

The Accounting Standards Codification (ASC) is a collection of all authoritative guidance related to generally accepted accounting principles (GAAP) in the Unites States. While it is convenient to ...

When a company acquires assets, those assets usually come at a cost. However, because most assets don't last forever, their cost needs to be proportionately expensed based on the time period during ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...