Fixed Asset Depreciation charge on a fixed asset when it is put to use, and not when it is ready for use. Depreciation is a method of allocating the cost of a it over its useful life, and it begins when the asset is available for use in the business. The asset is considered to… Read More »
Is Depreciation an Asset or a Liability There is perfect answer of Is Depreciation an Asset or a Liability question: Depreciation is neither an assets nor a liability. It is a non-cash expense that represents the decrease in the value of a fixed asset over its useful life. It is recorded as an expense… Read More »
Is book value the same as net asset value No, book value and net asset value (NAV) are not the same. Book value is the value of a company’s assets minus its liabilities and is calculated based on the accounting records of the company. It represents the value of the company’s assets that would remain… Read More »
Understanding the Difference Between Net Worth, Profit, and Turnover In the realm of finance and business, terms like net worth, profit, and turnover are often mentioned in discussions about a company’s financial health and performance. Net worth, profit, and turnover are three important financial terms used in business accounting. It refers to the total value… Read More »