Gaap Accounting For Domain Name Purchase. GAAP FASB AICPA Generally Accepted Accounting Principles in the United States. Such capital expenditure examples include buildings equipment software or machinery.
However a purchased generic domain name is a customer-based intangible as defined in 1197-2b6 if a the generic domain name is associated with a website that is already constructed and will be maintained by the acquiring taxpayer and b such taxpayer acquired the generic domain name for use in its trade or business either to generate advertising revenue by selling space on the website or to increase its market share by providing goods or services through the website. If he does this the rent would be income and the profit from sale would be gain. Generally Accepted Accounting Principles or GAAP are the set of accounting principles concepts and guidelines that guide the more detailed and comprehensive accounting rules practices and standardsThere are ten major GAAP principles that have evolved over decades and serve as the foundation of accounting.
We are pleased to present A Roadmap to Accounting for Asset Acquisitions.
An option is available for the owner of the property. We are pleased to present A Roadmap to Accounting for Asset Acquisitions. Such capital expenditure examples include buildings equipment software or machinery. The term authoritative includes all level AD GAAP that has been issued by a standard setter.