Bookkeeping – Amortization (Lesson 53)

Amortization

Amortization is similar to depreciation whereby an asset’s cost is allocated to the expense over time.  There are several differences with amortization.  Amortization is used with intangible assets and the method is almost always straight line.  As a bookkeeper it is your job to maintain the amortization schedules, report the information correctly and interpret the results for management.  

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