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Category: Accounting of assets

Accounting of assets

October 14, 2020 Khayyam Javaid, ACA

In this section, we’ll explain different types of assets and various accounting concepts associated with these assets. Some major categories…

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Posted in: Accounting of assets, Financial Accounting

Prepaid assets

October 13, 2020 Khayyam Javaid, ACA

Prepayments can be related to expenses as well as revenues, depending on whether an entity has paid cash in advance,…

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Posted in: Accounting of assets, Financial Accounting

Capitalization of borrowing cost

Khayyam Javaid, ACA

Borrowing cost includes interest, processing fee, or any other costs associated with the borrowing of funds. Generally, borrowing costs are…

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Posted in: Accounting of assets, Financial Accounting

Cost model vs fair value model for IP

Khayyam Javaid, ACA

Investment properties are initially recognized at cost including all directly attributable expenditure incurred to acquire the property. Subsequently, an entity…

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Posted in: Accounting of assets, Financial Accounting

Investment properties

Khayyam Javaid, ACA

Any land or building held by an entity for any of the following purposes is known as investment property: to…

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Posted in: Accounting of assets, Financial Accounting

Impairment of intangible assets

Khayyam Javaid, ACA

Impairment loss is the difference between an asset’s carrying amount and its recoverable amount. Purpose of this concept of calculating…

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Posted in: Accounting of assets, Financial Accounting

Research and development expenditure

Khayyam Javaid, ACA

In the modern-day business environment, you must have noticed that all the big companies have sophisticated R&D departments and so…

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Posted in: Accounting of assets, Financial Accounting

Amortization of intangible assets

Khayyam Javaid, ACA

Amortization is the systematic allocation of the cost of an intangible asset to income statement over its useful life. Why…

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Posted in: Accounting of assets, Financial Accounting

Accounting of goodwill

Khayyam Javaid, ACA

Goodwill is an intangible asset representing the established reputation and additional value of a business over and above the fair…

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Posted in: Accounting of assets, Financial Accounting

Intangible assets

Khayyam Javaid, ACA

Intangible assets are identifiable non-monetary assets of an entity which do not have physical substance or existence. Here the word…

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Posted in: Accounting of assets, Financial Accounting

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    Financiopedia
    • Financial Accounting
      • Basics of accounting
      • Double-entry accounting system
      • Accounting cycle
      • Accounting principles
      • Bookkeeping
      • Accounting of assets
      • Property, plant and equipment
      • Financial instruments
      • Inventory
      • Accounts receivable
      • Accounting of liabilities
      • Accounting of income
      • Accounting of expenses
      • Financial statements
      • Ratio analysis
    • Management Accounting
      • Introduction to management accounting
      • Introduction to costs
      • Material and labour costs
      • Marginal and Absorption Costing
      • Inventory valuation
      • Inventory management
      • Costing systems
      • Budgeting
      • CVP analysis
    • IFRS
      • IFRS 15 – Revenue from contracts with customers
      • IFRS 9 – Financial Instruments
    • About Us