Lesson 8: Long-Term Operating Assets

Glossary - Know Your Words

Accounting is the language of business. To become proficient in accounting, it's essential to understand the terminology associated with each concept. Every lesson introduces specific terms, and we encourage you to take the necessary time to study each one carefully. Our glossary allows you to learn definitions in the context of related terms. It's a simple yet powerful tool that our university students have trusted for years to master accounting.

Accumulated Amortization
Accumulated Depletion
Accumulated Depreciation
Amortization
Appreciation
Book Value of an Asset
Capital Assets
Capitalized Cost
Capitalized Expenditure
Copyrights
Depletion
Depreciation
Fair Market Value of a Company
Franchise Rights
Gain On Sale
Goodwill
Improvements
Intangible Asset
Long-Term Assets
Loss on Disposal
Loss on Sale
Natural Resources
Patent
Property, Plant and Equipment
Repairs and Maintenance Expense
Research and Development Costs
Salvage Value
Straight-Line Method
Trademarks
Units-of-Production Method
Useful Life