Accounting Category: Assets

Accounting Articles

July 21, 2012

Should the useful life of a newly acquired fixed asset be the same as its physical life? This and other questions related to fixed asset useful lives are answered in this article.

July 10, 2012

How should you account for a revision in the useful life of fixed assets? What financial statement impact does such revision have? Find answers to these questions in this article.

April 8, 2012

Learn about accounting for advances to employees and officers with real-life examples and journal entries.

April 1, 2012

Learn about accounting for obsolete inventory with examples of obsolescence reserve journal entries.

March 18, 2012

Learn about accounting for short-term investments: trading securities and available-for-sale securities.

March 10, 2012

Learn about the impact of capitalizing vs expensing costs in the current and future periods.

January 28, 2012

Learn about accounting for repair and maintenance costs for fixed assets.

September 14, 2010

Two methods to account for prepaid expenses: balance sheet approach and income statement approach.

April 6, 2010

Prepare balance sheet from trial balance in five easy steps. Format and elements of classified balance sheet.

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Accounting Categories
Accounting categories represent a collection of accounting guides and answers related to one accounting area.