A prepaid asset is an expenditure of money in advance of when the money is due. For example, you might pay up front for a year's rent or insurance, even though the payments are due monthly. Under ...

The question of how to account for digital assets has emerged as a challenging one for accountants as use of these assets becomes increasingly common. Although accounting for exchange-traded digital ...

Computers, office chairs and factories all wear down and lose value over time. Depreciation is how accountants factor that fact into their number-crunching. A depreciated five-year-old computer isn't ...

The Tax Court addressed the proper treatment of an accounting firm’s distributions of “client-based” intangible assets, the capital accounting rules of Regs. Sec. 1.704-1(b)(2)(iv), and the tests for ...

The Financial Accounting Standards Board has issued an Invitation to Comment document asking for input from its constituents on the accounting for certain identifiable intangible assets acquired in a ...