An asset is anything, tangible or intangible, that has economic value to its owner or could have economic value in the future.

Accounting divides your company assets into two classes: current and long-term. Current assets include cash and anything you use up or convert to cash over the next 12 months. Typical examples are ...

Accounting uses a lot of abbreviations. GL for general ledger, DR for debit, CR for credit are examples. Fixed asset accounting is no exception. Fixed assets are used frequently in financial analysis ...

Typically, a company reduces the value of its fixed assets steadily over time as its real estate, equipment, and other assets are used in the normal course of business. Sometimes, however, unexpected ...

Updating their fixed-asset records and exploring state exemptions can create often-missed tax savings for businesses.