Recent articles
Benefits of Lease Accounting Software for Dual-Filers
Explore the benefits of accounting software for dual-filing.
Investment Accounting Methods under US GAAP Explained
What is an investment in accounting? You have probably heard of stock investments, and the term “investment” may lead you to immediately envision stocks, bonds, and mutual funds. While this line of thinking is correct, accountants view investments as this and much...
FASB Clarifies Accounting for Acquired Revenue Contracts with Customers
Learn about FASB’s new update about acquired revenue contracts.
Accretion Expense Accounting Explained with Full Example and Journal Entries
What is accretion in accounting? Accretion is the periodic recognition of an expense associated with an increase in the present value of a liability over time. This expense is recognized as an operating expense in the statement of income. In practice, accretion...
ARO (Asset Retirement Obligation) Accounting Example for Oil and Gas Production
Asset Retirement Obligations (ARO) are commonly associated with industries such as oil and gas, mining, waste disposal, or nuclear energy. Some examples specific to the oil and gas industry include oil well plugging and abandonment and underground storage tank...
Asset Retirement Obligation (ARO) Accounting Example for Real Estate
An asset retirement obligation (ARO) represents the legal commitment to remove certain improvements or modifications to an asset at the end of the asset’s use. The FASB’s ASC 410 Asset Retirement and Environmental Obligations (ASC 410) discusses accounting for AROs....