Assets are items of value and that value is displayed on a company's balance sheet. When an asset is retired -- sold, donated or otherwise disposed of -- its value must be removed from the balance ...

Please note: This item is from our archives and was published in 2002. It is provided for historical reference. The content may be out of date and links may no longer function. TO ESTABLISH A SINGLE ...

An asset is counted as retired when it is permanently removed from service. Asset retirement can occur in processes such as a sale to another party or disposal due to obsolescence. Since long-term ...

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 ...

Learn how administrative accounting supports decision-making and operational control with roles like payroll management and budgeting. Discover key differences from financial accounting.

The fixed asset custodian plays an important role in maintaining the accuracy of the data contained within the University's fixed asset system. The Office of the Comptroller relies on the custodians ...

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

Your free business.com+ membership unlocks exclusive tech deals and advisor support Business.com aims to help business owners make informed decisions to support and grow their companies. We research ...

IT asset management is the process of accounting for the location and condition of all business assets. The goal is to optimize asset use, so that all asset lifecycles are as long as possible and the ...

TO PROVIDE BUSINESSES WITH GUIDANCE ON WHEN and how to recognize a liability for asset retirement obligations, FASB issued Statement no. 143, Accounting for Asset Retirement Obligations. The statement ...