Interested to Buy Any Domain ? << Click Here >> for more details...
Answer Posted / h.r. sreepada bhagi
Amortization is the process of writing off Intangible assets
over a period of more than one year. Example, Amount paid or
spent for acquiring patent, Pre-operative Expenses,
Preliminary Expenses, etc. It's similar to charging
depreciation on tangible fixed assets.
The purpose is not to burden the Profit & Loss A/c of the
year in which the expenses are incurred, but to spread over
a period or years with a view to set off against the
revenues of several financial periods with reasonable logic.
| Is This Answer Correct ? | 4 Yes | 0 No |
Post New Answer View All Answers
Journalize the Following: 1. The following were purchased on account: a. Materials $ 10,000 b. Office supplies $ 2,000 c. Small tools $ 1,000
What is meant by daily accrual and booking?
Explain financial accounting.
what is different between leaser of subsidary book and journal?
Define fictitious assets?
Do you know what is project implementation?
what made you take up present subject/area of specialization and what would you define as your career objectives
Define fair value accounting?
What are the important things to be remembered while preparing a bank reconciliation statement?
what is the relationship between cost accounting financial accounting and managerial accounting?
What is journalizing?
How can do it TDS in accounts?
what are the basic elements to prepare a quarterly information system and how to calculate that items?
Fundamental accounting assumptions are (a) Materiality. (b) Business entity. (c) Going concern. (d) Dual aspect
What is meant by public accounting?
