Does retiring an asset have any income or impact in accounting?

Answer On One Hand: There Is An Impact.Retiring an asset can effect both the balance sheet and the income statement. Financial Accounting Standards Board (FASB) statement 143 requires entities to recogniz... Read More »

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What is an asset in accounting?

Financial information consists of three groups of items: assets, liabilities and owner's equity. Traditional double-entry accounting requires all assets to be balanced against liabilities and owner... Read More »

Human Asset Accounting Methods?

Human asset accounting, also known as human resource accounting, is a type of accounting that takes into consideration the value and role people play in the organization. It takes into consideratio... Read More »

Does issuing bonds at a premium assure a favorable impact on cash flow&income?

On One Hand: Premium Bonds Raise More Capital Initially.Issuing bonds at a premium is a way to maximize the amount of capital received upfront, and has a positive effect on cash flow and net income... Read More »

At what income does a minor have to file an income tax return?

As of the 2009 tax year, if a minor has gross income of more than $9,350, she must file income taxes. Gross income is the total amount of taxable income the child earns during the year. If the mino... Read More »