Expenditures capitalized as long lived assets generally include those expenditures that are material in amount and that have an economic benefit to the entity that extends beyond the current year.
In monetary accounting, an asset is any aid owned or managed via a commercial enterprise or an financial entity. It is whatever that can be used to provide fantastic monetary fee, assets constitute fee of ownership that can be converted into coins.
Assets are commonly categorized in three ways:
Convertibility: Classifying assets based totally on how clean it's far to convert them into coins.
Physical lifestyles: Classifying assets based totally on their bodily life
Utilization: Classifying assets based on their enterprise operation utilization/motive.
What are the examples of assets?
Cash and cash equivalents.
Bills receivable (AR)
Marketable securities.
Logos.
Patents.
Product designs.
Distribution rights.
Homes
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