Depletion: related pages

Amortisation

Amortisation is the equivalent of depreciation for intangible assets.

Depreciation

The allocation of the cost of an asset to the profit and lost account by allocating part of the cost to each year of its estimated useful life.

Tangible assets

Assets that have a physical form and financial assets, as opposed to intangible assets.

Accrual principle

The accounting principle of matching of costs to the revenues they generate.

Going concern principle

The assumption for the purposes of accounting or valuation, or the fact in the case of a sale, that a business will continue to operate.

Book value

The value of assets as shown on the balance sheet.

Fixed asset

Fixed assets are assets that have a remaining life over an year.

Historical cost

An asset value based on the actual purchase cost, or the accounting principle that requires this.