Specifically, digital assets: Are indefinite-lived as they have no prescribed life. This means companies initially record digital assets at their acquisition cost and, thus, subject them to annual and ...

Last October, Tesla filed its quarterly financial statement with the SEC with, to some, a curious omission from the balance sheet: an unrealized gain of $570 million. It stemmed from the company’s ...

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 ...

To provide guidance for the accounting treatment of purchased and internally-generated intangible assets in compliance with gasb.No51 and University of Texas (UT ...

Bitcoin might be the most recognizable cryptocurrency, but it’s hardly the world’s only digital asset. Generally, a digital asset is a “digital record made using cryptography for verification and ...

Please note: This item is from our archives and was published in 2021. It is provided for historical reference. The content may be out of date and links may no longer function. Accounting for and ...

Fixed assets, also known as property, plant and equipment, are usually expensive items that last long term, such as real estate, heavy equipment and furniture. Accountants in charge of this area of a ...

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 University defines capital equipment as tangible personal property with a useful life greater than one year with an individual or componentized cost of $5,000 or greater. The equipment can be ...

Orange County’s homegrown commercial banks recorded another explosive year of asset growth with the top local bank becoming the first in years to surpass the $1 billion mark. Together, the 19 banks on ...

To provide guidance for the accounting treatment of purchased and internally-generated intangible assets in compliance with gasb.No51 and University of Texas (UT ...