What expenses should be capitalized?
Answer:
Generally, expenditures for things which have a useful life over a period of years are capitalized and then systematically expensed over the useful life of the asset. Expenditures with a life less than 12 months can be fully expenses in the current year.
Interested in more Bookkeeping & Write-up Questions?
- there is an over accrual that is still sitting in the liability for three years now.. if i want to reverse should I use relevant expense account?
- What is kiting a check ?
- What is an accounts receivable aging schedule ?
- I live in Georgia , where do I file Employer's Quarterly Federal Tax Return 941 ?
- What is forecasting ?
