Assets in Accounting: A Beginners’ Guide
Depreciation applies to tangible assets like machinery and buildings, where value decreases due to wear and tear. Accounting for assets begins with recognizing their value and how they contribute to a company’s financial health. Assets are categorized as either current (short-term) or non-current (long-term). Fixed assets—also known as non-current or long-term assets, these are possessions […]
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