Topic: Amortization in Accounting
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What does amortize mean in accounting
Amortization is the systematic allocation of a balance sheet item to expense (or revenue) on the income statement. Read More »
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What is amortization in accounts?
Amortisation is some thing like depreciation but done on intangible assets like patents, trade marks, preliminary expenses and Goodwill. There are no specific methods of calculating amortisation, the methods used while calculating depreciat... Read More »
Source: http://answers.yahoo.com/question/index?qid=20101022201433AAyZUra
Which of these need to be amortized (accounting)?
6) trademark A/R will be collected Inventory will be sold Land is typically held at it's cost value Buildings,equipment & the Database are depreciated A trademark in an intangible asset. Those are amortized over their useful life. Source(s)... Read More »
Source: http://answers.yahoo.com/question/index?qid=20111218120525AAYeoQ3
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Amortization in Accounting
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Debit: Deferred loan origination fees Credit: Interest income
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Source: http://wiki.answers.com/Q/What_is_the_accounting_journal_entry_to...
reread chapter 1
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Source: http://answers.yahoo.com/question/index?qid=20080425064222AATxSIx
The answer to this question lies in the durable life of the 'cost' you incurred. Typically, the costs which are capitalised are for items which have an expected lifetime of over 1 year. We are thinking of computer equipment (hopefully, you'...
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Source: http://wiki.answers.com/Q/Why_are_certain_costs_of_doing_business...
According to the CFA Financial Statement Analysis Book: BRANDS AND TRADEMARKS The cost of acquiring brands and trademarks in arm's-length transactions is capitalized. However, as in the case of other intangibles, US GAAP prohibits recogniti...
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Source: http://www.askmehelpdesk.com/accounting/accounting-trademark-expe...
Depreciation is used to expense a fixed asset. When a fixed asset (buildings, equipment, etc...) is purchased you make an entry to the asset account and an entry to cash or what ever method you used to pay. In order to recognize the expense...
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Source: http://www.askmehelpdesk.com/accounting/depreciation-amortization...
Set up an asset account for the Goodwill and another for the Covenant Not to Compete. These should be classified as Other Assets on the Balance Sheet. You will also need an expense account named Amortization Expense. Amortize these items ov...
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Source: http://community.intuit.com/posts/how-do-i-setup-amortization-in-...
