Wiley GAAP 2008

Definitions of Terms

Amortization	The periodic charge to income that results from a systematic and rational allocation of cost over the life of an intangible asset. Analogous to depreciation of tangible assets.
Asset group	The lowest level for which identifiable cash flows are largely independent of the cash flows associated with other assets and liabilities.
Asset retirement obligation	A legal obligation associated with the retirement of a tangible long‐lived asset that results from its acquisition, construction, development, and/or normal operation.
Book value	The cost of a long‐lived asset less the related accumulated depreciation or amortization to the date of measurement. Sometimes referred to as net book value.
Boot	The monetary consideration given or received in an asset exchange.
Depreciation	The periodic charge to income that results from a systematic and rational allocation of cost over the life of a tangible asset. Analogous to amortization of intangible assets. Depreciation is only a method of cost allocation, not a means of determining or presenting current valuation of assets.
Disposal group	A group of assets to be disposed of in a single transaction as a group, and the liabilities directly associated with those assets that will be transferred with them.
Dividends‐in‐kind	Dividends paid to stockholders from assets of the corporation other than cash.
Exchange	A reciprocal transfer between the reporting entity and another entity that results in the acquisition of assets or services, ...