what is amortization?
Answers were Sorted based on User's Feedback
Answer / vinay kumar . pagidikondala
It is a process of writing of intangible assets.
pvinay0910@gmail.com
Is This Answer Correct ? | 2 Yes | 0 No |
Answer / vaheeduddin.md
Amortization usually refers to spreading an intangible
asset's cost over that asset's useful life. For example, a
patent on a piece of medical equipment usually has a life
of 17 years. The cost involved with creating the medical
equipment is spread out over the life of the patent, with
each portion being recorded as an expense on the company's
income statement.
Is This Answer Correct ? | 1 Yes | 0 No |
Answer / srikar
gradually reduces the value of goodwill and tangible assets
Is This Answer Correct ? | 1 Yes | 0 No |
Answer / dharmesh sati
Amortization, an accounting concept similar to
depreciation, is the gradual reduction of the value of an
asset or liability by some periodic amount (i.e., via
installment payments). In the case of an asset, it involves
expensing the item over the "life" of the item—the time
period over which it can be used. For a liability, the
amortization takes place over the time period that the item
is repaid or earned. Amortization is essentially a means to
allocate categories of assets and liabilities to their
pertinent time period.
Is This Answer Correct ? | 0 Yes | 4 No |
What is the criteria to calculate GDP growth?
what is general accounting
please give a journal entry for purchase order
What is the difference between Economics and Finance?
Name three (3) equity security types
6 Answers FactSet Systems, ICICI, Shore Infotech,
What will be the journal entry for the following - 1)Goods purchased from Mohan for Rs 5000 2)Goods purchased from Mohan on credit Rs 3000 3)Salary paid to Mohan 4)A sum of Rs 120 is realized on the sale of old furniture
10 Answers ICICI, State Bank Of India SBI, Toshiba,
what is MD050
IN OUR COMPANY I GOT TELEPHONE BILL IN WHICH TELEPHONE COMPANY HAS CHARGE SERVICE TAX . WHAT ABOUT THESE SERVICE TAX. IS I HAVE TO FILE RETURN FOR THESE.
plz tell me Agar koi co. ka exp. generate ho or uski payment cash se ki jaye to hume wo exp. book krne ke liye payment ki receipt leni jaruri hai bina receipt ke entry krna sahi h ya galat..??
What is a wash rate in foreign exchange accounting?
wat is accounting entity
One car company raised an invoice of 30k to its customer, which includes car's price and one year service price of 1600 (cost). They work on 25% margin. How much amount will go to Income statement and B/S?