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 ...

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 ...

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 ...

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 ...

Peter Johnson, director of Advisers Digest, said the ATO has updated their ruling on ownership and separation of fund assets, ...

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 ...

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 It is provided for historical reference. The content may be out of date and links may no longer function.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 ...