Discuss the Two Ways of Recording Video

question 158

Essay

Discuss the two ways of recording video

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Definitions:

Financial Accounting

The field of accounting that focuses on recording, summarizing, and reporting the myriad of transactions resulting from business operations over a period of time.

Goodwill

An intangible asset that represents the excess value of a purchased company over the fair value of its identifiable net assets.

Amortize

The gradual reduction of a debt over a period of time through regular payments of principal and interest sufficient to pay off the debt by maturity.

GAAP

Generally Accepted Accounting Principles, a set of accounting standards and procedures used in the United States to guide the recording and reporting of financial information.