Content Roadmap: SEC Reporting Considerations for Guarantees and Collateralizations (August The Tax Treatment of Loss Contingency Lawsuits and Contingencies On the Radar: Contingencies, loss recoveries, and guarantees Company Where Do You Include Realized Loss on an Income Statement? At the 2010 AICPA Conference, Mr. Carnall noted that management needs to “take back the financial statements” …

Content New Way to Deduct Lower-Cost Equipment Are office supplies an asset or an expense? Office Supplies Accounts Receivable How Should You Classify Office Expenses? What Is the Definition of an Office Equipment Office supplies are current assets, and will be used up within a year, meaning their cost can be expensed on the income …

Content Current (Short-Term) Assets Step 1: Pick the balance sheet date What’s on a balance sheet? Balance Sheet Template: How to Prepare a Balance Sheet? But there are a few common components that investors are likely to come across. As the name suggests, the equation balances out, with assets on the one side being equal …