Retirement
FEATURED ARTICLES
All articles in this category pertain to fixed asset retirement. Retirement accounting is a method of accounting for the removal of assets from the books when they are no longer in use. Typically only fixed assets, such as buildings, vehicles, and machinery are retired. Companies retire assets from service and the general ledger once they are no longer useable because of physical deterioration or other factors.
Learn more about retirement accounting below.
Recent articles
Asset Retirement Obligation (ARO) Accounting under ASC 410 and ASC 842 Explained with Example
Have you ever entered into an operating lease for a building, constructed leasehold improvements, and determined based on the provisions of the lease that you are legally obligated to remove the leasehold improvements at the end of the lease? If so, then you had an...
Lease Accounting: What Are the New Challenges for Lessees?
Learn how the new accounting standards will impact lessees.