The Client Information System (CIS) is a web-based application designed for use on. most computers with an internet connection. There are, however, some minimum. requirements that must be met for its correct operation. While CIS may work (or. appear to work) normally on other operating systems or using other web browsers,
Amortization refers to spreading the cost of an intangible asset over its useful life. Depreciation refers to prorating the cost of a tangible asset over its estimated life. Intangible assets include patents, copyrights, and intellectual property. Tangible assets include land, buildings, equipment, and vehicles.
1 Depreciation is used to ratably reduce the cost of a tangible fixed asset, and amortization is used to ratably reduce the cost of an intangible fixed asset. 2  The amortized cost term can also be applied to the accumulated amount of depletion of a natural resource that has been charged to expense. For example, ABC International has been depreciating a machine in its production area for the last five years. 2  The $48,000 that has been charged to depreciation expense thus far is its amortized cost. 3  As another example, ABC has been amortizing the acquired cost of a patent for several years.