Accumulated amortization: The sum of prior amortization expense

  • Contra account: Appears as a negative number (credit) in the asset section of the balance sheet
  • Offsets intangible asset value recorded at cost, such as patents, trademarks, copyrights, franchise licenses, and goodwill

H_13F_Accumulated_amortization

Learn accounting with the free app

Accounting Flashcards

Accounting Flashcards includes a translate button for English, Chinese, and Spanish.

Learn financial accounting using beautifully illustrated flashcards, coordinated lessons, and rich audio. Whether you are an aspiring CPA or IFRS expert, use this accountancy app to reach your goals. Even an aspiring chartered accountant or those reaching for the CPA Australia can benefit. Topics of accounting standards, equation, terms, ratios, and more are covered.

iPhone6_mockup_truacur_smaller2

Get the PDF book here

Subsribe

 

« Back to Glossary Index