Term
| accelerated-depreciation method |
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Definition
| depreciation method that produces higher depreciation expense in the early years than in the later years. (p. 407) |
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Term
| additions and improvements |
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Definition
| costs incurred to increase the operating efficiency, productive capacity, or useful life of a plant asset. (p. 409) |
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Term
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Definition
| the allocation of the cost of an intangible asset to expense over its useful life in a systematic and rational manner. (p. 414) |
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Term
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Definition
| a measure of how efficiently a company uses its assets to generate sales; calculated as net sales divided by average total assets. (p. 419) |
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Term
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Definition
| expenditures that increase the company's investment in productive facilities. (p. 409) |
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Term
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Definition
| exclusive grant from the federal government that allows the owner to reproduce and sell an artistic or published work. )p. 415) |
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Term
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Definition
| depreciation method that applies a constant rate to the declining book value of the asset and produces a decreasing annual depreciation expense over the useful life of the asset. (p. 406) |
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Term
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Definition
| the allocation of the cost of a natural resource to expense in a rational and systematic manner over the resource's useful life (p. 413) |
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Term
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Definition
| the process of allocating to expense the cost of a plant asset over its useful (service) life in a rational and systematic manner. (p. 402) |
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Term
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Definition
| the cost of a plant asset less its salvage value. (p. 404) |
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Term
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Definition
| a contractual arrangement under which the franchisor grants the franchisee the right to sell certain products, provide specific services, or use certain trademarks or trade names, usually within a designated geographical area. (p. 416) |
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Term
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Definition
| states that the company will continue in operation for the foreseeable future. (p. 403) |
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Term
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Definition
| the value of all favorable attributes that relate to a business enterprise. (p. 417) |
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Term
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Definition
| rights, privileges, and competitive advantages that result from the ownership of long-lived assets that do not possess physical substance. (p. 414) |
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Term
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Definition
| operating rights to use public property, granted to a business enterprise by a governmental agency. (p. 416) |
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Term
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Definition
| if an item would not make a difference in decision making, a company does not have to follow GAAP IN REPORTING IT. (P. 410) |
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Term
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Definition
| assets that consist of standing timber and underground deposits of oil, gas, or minerals. (p. 413) |
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Term
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Definition
| expenditures to maintain the operating efficiency and productive life of the unit. (p. 409) |
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Term
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Definition
| an exclusive right issues by the U.s. Patent Office that enables the recipient to manufacture, sell, or otherwise control an invention for a period of 20 years from the date of the grant. (p. 415) |
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Term
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Definition
| tangible resources that are used in the operations of the business and are not intended for sale to customers (p. 398) |
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Term
| research and development (R&D) costs |
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Definition
| expenditures that may lead to patents, copyrights, new processes, or new products. (p. 417) |
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Term
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Definition
| expenditures that are immediately charge against revenues as an expense. (p. 409) |
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Term
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Definition
| an estimate of an asset's value at the end of its useful life. (p. 403) |
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Term
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Definition
| depreciation method in which periodic depreciation is the same for each year of the asset's useful life. (p. 404) |
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Term
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Definition
| a word, phrase, jingle, or symbol that identifies a particular enterprise or product . (p. 416) |
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Term
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Definition
| depreciation method in which useful life is expressed in terms of the total units of production or use expected from an asset. (p. 405) |
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Term
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Definition
| an estimate of the expected productive life, also called service life, of an asset. (p. 403) |
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