Businesses depreciate long-term assets for both tax and accounting purposes. For tax purposes, businesses can deduct the cost of the tangible assets they purchase as business expenses. Microsoft Excel ...

Fixed assets sometimes represent the largest single investments for a business, so every business owner should take the time to develop fixed asset policies and procedures. Fixed asset policies should ...

Depreciation measures how quickly an asset loses value before it breaks down or becomes obsolete. Accumulated depreciation is the total amount of an asset's original cost that has been allocated as a ...

Establishing the existence of a business's fixed assets and evaluating their value is an essential auditing task. Despite this, many businesses do not do a great job of keeping track of fixed assets.

Steven Nickolas is a writer and has 10+ years of experience working as a consultant to retail and institutional investors. Charlene Rhinehart is a CPA , CFE, chair of an Illinois CPA Society committee ...

David Kindness is a Certified Public Accountant (CPA) and an expert in the fields of financial accounting, corporate and individual tax planning and preparation, and investing and retirement planning.