Chapter 4
Accounting for Assets
In This Chapter
Calculating the cost of your assets
Considering agricultural and biological assets
Selling your assets
Taking stock of your inventory
Interpreting intangible and tangible assets
Investing in investment properties
This chapter is all about assets. I’m sure that you’re familiar with the term. You can describe a person as an asset to her organisation, and you can class personal belongings such as savings and bonds as assets. In the world of financial reporting, an asset is something that belongs to an organisation (though the actual definition is a lot more complex than that, as I explain in this chapter). The organisation can have long-term assets that the business uses to help make money (known as non-current assets like plant and machinery) and short-term assets (known as current assets) that you expect to turn into cash (realise) within ...
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