Difference between revisions of "Organization cost"
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Revision as of 19:24, 20 December 2018
Organization cost is an intangible asset that records the initial cost of forming the corporation, such as legal and incorporating fees. Today, it is being expensed.
Definitions
According to College Accounting: A Practical Approach by Slater (13th edition),
- Organization cost. An intangible asset that records the initial cost of forming the corporation, such as legal and incorporating fees. Today, it is being expensed.
Related concepts
- Accounting (alternatively known as accountancy) is management of financial data, information, and knowledge about financial transactions of legal entities. Accountancy tends to include bookkeeping and, depending on a particilar enterprise, may also include quatitative analysis of financial data in the bookkeeping system and/or business intelligence.
