Asset

 

Owned by an entity, something that provides benefits and whose cost can be measured. The measure of the value of assets in dollar appears on the balance sheet for something to be classified as an asset, and to appear on the balance sheet. Balance sheet must provide probable future benefits, be owned by the entity as a result of a past transaction, and have a value that is measured using generally accepted accounting principles. Examples include patents, land and cash.

 

 

 

   Related Questions in Financial Accounting

  • Q : Claim depreciation When an asset is

    When an asset is purchased and the similar is not employed for the financial year, must the company charge the depreciation and the reason for the similar?

  • Q : What do you mean by the term turnover

    What do you mean by the term turnover?

  • Q : Define the term Cash Define the term

    Define the term Cash in accountancy?

  • Q : Accounting Acquisition Entry and

    Acquisition Entry and Consolidation Working Paper On January 31, 2014, Phoenix, Inc. acquired all of the outstanding common stock of Spark Corporation for $400 million cash plus 25 million shares of Phoenix' $10 par value common stock having a market value of $90 per share. Registration fees were $

  • Q : Explain the term Insolvent Explain the

    Explain the term Insolvent in brief associating to debt?

  • Q : Lessons from experiences of Novo State

    State some of the factors which motivated Novo Industries to seek the U.S. listing of its stock. Explain about the lessons which may be derived from experiences of Novo?

  • Q : Average Profit Method in goodwill

    Average Profit Method: (Goodwill method): The profit earned by an organization throughout previous accounting periods on an average basis is termed as average profit. Goodwill is computed on the basis of average profit due to prospect expectations of

  • Q : Incremental cash flow How the concept

    How the concept of lost sales can be related to the definition of incremental cash flow.

  • Q : Capitalization Method for Goodwill

    Capitalization Method: (Goodwill method): In this technique capitalized value of the firm is computed on the basis of normal rate of return. Difference between the capitalized value and real capital employed is termed as goodwill.

  • Q : Determining interest rate parity

    Presently, spot exchange rate is $1.50/£ and three-month forward exchange rate is $1.52/£. Three-month interest rate is 8.0% per annum within the U.S. and 5.8% per annum within the U.K. Suppose that you can borrow as much as $1,500,000 or £1,000,000.

©TutorsGlobe All rights reserved 2022-2023.