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  2. IAS 16 - Wikipedia

    en.wikipedia.org/wiki/IAS_16

    That is, the mark-down in value of the asset should be recognised as an expense in the income statement every accounting period throughout the asset's useful life. [1] The useful life of the asset is determined by taking into account expected usage, physical wear and tear, technical or commercial obsolescence arising from changes in production ...

  3. BAS (accounting) - Wikipedia

    en.wikipedia.org/wiki/BAS_(accounting)

    The BAS chart was reformed in the late 1990s to adapt the IFRS chart layout directives and is known then as BAS2000, but today in general as just the BAS chart. A nested group of organisations with BAS in the center is forming a common Swedish GAAP and common routines in accounting and domestic reporting standards.

  4. Actual cash value - Wikipedia

    en.wikipedia.org/wiki/Actual_cash_value

    The depreciation is usually calculated by establishing a useful life of the item determining what percentage of that life remains. This percentage multiplied by the replacement cost equals the actual cash value. For instance, imagine a man bought a television set for $2,000 five years ago, which was unfortunately destroyed in a hurricane.

  5. Tax amortization benefit - Wikipedia

    en.wikipedia.org/wiki/Tax_amortization_benefit

    The tax amortization period might be different from the useful life used in accounting. For example, while trademarks can have an indefinite useful life for accounting purposes, the tax legislation of the United States establishes a mandatory 15-year amortization period for trademarks. [4]

  6. MACRS - Wikipedia

    en.wikipedia.org/wiki/MACRS

    The method and life used in depreciating an asset is an accounting method, change of which requires IRS approval. [6] Taxpayers may track the basis and accumulated depreciation of assets individually or in vintage accounts, as in the old ADR system.

  7. AOL

    search.aol.com

    The search engine that helps you find exactly what you're looking for. Find the most relevant information, video, images, and answers from all across the Web.

  8. Amortization (accounting) - Wikipedia

    en.wikipedia.org/wiki/Amortization_(accounting)

    In accounting, amortization is a method of obtaining the expenses incurred by an intangible asset arising from a decline in value as a result of use or the passage of time. Amortization is the acquisition cost minus the residual value of an asset, calculated in a systematic manner over an asset's useful economic life.

  9. Capital asset - Wikipedia

    en.wikipedia.org/wiki/Capital_asset

    For State or Local governmental accounting in the United States with reference to public capital or infrastructure a capital asset is defined as any asset used in operations with an initial useful life extending beyond one reporting period. [6] Generally, government managers have a "stewardship" duty to maintain capital assets under their control.