what is accounting and asset and liability expenss expanditures capital and revenue?
what is accounting and asset and liability expenss expanditures capital and revenue
2008-05-06 20:27:26 by gm g
Array
LHCC directors discuss a motion by Treasurer John Martel to simply expense all depreciable capital assets, rather than capitalizing and ...
I would like know Fixed Asset accounting, depreciation, retirement?
what do you want to know? can you not get the explanation from the local book store - accounting text book?
2008-07-22 03:24:29 by Ratna
How do you credit the asset account without incurring a credit to the R&M in the P&L as the parts are used?
Spare parts are an assets in the balance sheet, but what if the parts were paid by a different division and the original entry is a debit to the spare parts inventory and a credit to the intercompany? (New parts, no depreciation)
How do you credit the asset account without incurring a credit to the R&M in the P&L as the parts are installed?
The problem is that it's not a sale, it's a transfer.
Division A has assumed responsibility for the liability of the asset/inventory and transferring it without that liability
2009-03-24 16:35:33 by Fatimita
For accounting does the the debit asset accounts for the post trial balance transfer to the next year accounts
And do they go on the ledgers, or just get wiped out?
the posting trial balance resembles the balance sheet it contains the ending balances of the permanent accounts. the balance sheet accounts the assets, liabilities, shareholders equity. No temporary accounts, revenues, expenses, or withdrawal accounts are included because their balances have been closed. The ledger is up to date and ready for the next period's transactions
2007-03-11 19:44:25 by Princess-R
Accounting: How does equipment and tool purchases appear in a general ledger?
The questions I have for you accountants are:
1) What type of equipment and tools qualify as and asset and should therefore be added into an asset account (Vehicles I know do, but what about power tools, computers, office equipment, tractors, trailers, etc.) How can I distinguish?
2) Do equipment purchases that appear in an asset account also need to appear in an expense account?
Basically I have been given the task of accounting for this company and I'm not an accountant. The equipment thing is boggling my mind. Please help.
Generally, if the equipment is going to be used for more than one year, it is placed on the balance sheet as an asset and depreciated over its useful life. Say the company buys a computer for $2000 and its expected useful life is 5 years. Put it on the balance sheet as an asset and for each of the 5 years, you reduce the balance of the asset account using the contra-asset account 'Accumulated Depreciation - Office Equipment' and allocate $400 to the expense account 'Depreciation Expense - Office Equipment'.
2009-01-15 11:12:41 by Ryjasu
How to Value Bank Stocks Investing Daily
Now is a perfect time to invest in a bank -- specifically the rock-solid, high-yielding, community-focused variety that not only survived the challenges of 2008 but thrived.
-- Roger Conrad, Personal Finance
Yesterday (Sep. 6th), the Switzerland-based Basel Committee on Banking Supervision issued new "Basel III" draft regulations imposing a 9% Tier 1 capital requirement on global banks, which would be more than double the 4% requirement that was required under Basel II. The Tier 1 capital ratio is a complicated calculation, but the gist of the numerator is bank equity (both common and preferred) and the denominator is risk-weighted total assets, where safe assets like cash and government securities are given a weight of zero, mortgage loans (i.e. secured by property) are weighted 0.5, and unsecured loans are weighted 1.0.
The Basel III proposal would also require banks to maintain a tangible common equity (TCE) ratio of at least 5%. TCE is a more stringent measure of capital than Tier 1 and is composed of only common equity (minus a deduction for goodwill).
Source:
Asset Inventory: Tracking Software Licenses
FAQ About Sage FAS Asset Inventory – I see a trend.
I’m getting the question about how to use the Sage FAS Asset Inventory solution to track software licenses within an organization. Although there are many free “sniffer” solutions out there that will go out and obtain each users software licenses, sometimes, that’s not enough.
You can utilize the Sage FAS Asset Inventory solution in two ways:
Create a new ‘company’ called Software License. You can rename all the fields that are available in Asset Inventory (yes, even the ones that are already named out of the box). You can name them: operating system; office version; accounting software; etc. Then you can create drop-down choices in the SmartList (aka: drop down) to incorporate versions, types, etc. Other fields you can track information on are the obvious: Registration Codes, Serial...
ReutersStanford accounts 'convoluted,' receiver saysThe filing by court-appointed receiver Ralph Janvey describes a gaggle of businesses with bloated payrolls, high overhead and dozens of different accounting systems “seemingly designed to obfuscate holdings and transfers of cash and assets. Stanford companies focused on sales of CDs: US receiver Allen Stanford seen in hard fight for legal fees
These accounting pronouncements related to noncontrolling interest and convertible debt instruments, respectively, which both required retrospective application. In addition, 3M reclassified balance sheet amounts related to life insurance policies from Atheros Announces First Quarter 2009 Results Southern National Bancorp of Virginia Inc. Reports Earnings for First Capital Bancorp, Inc. Reports Results for the First Quarter -
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IASB rejects EU calls for immediate changesBy Huw Jones BRUSSELS, April 24 (Reuters) - The International Accounting Standards Board (IASB) on Friday rejected EU calls for an immediate response to US easing in fair value accounting rules. IASB, which sets mandatory accounting rules used in the
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ReutersStanford accounts 'convoluted,' receiver saysThe filing by court-appointed receiver Ralph Janvey describes a gaggle of businesses with bloated payrolls, high overhead and dozens of different accounting systems “seemingly designed to obfuscate holdings and transfers of cash and assets. Stanford companies focused on sales of CDs: US receiver Allen Stanford seen in hard fight for legal fees