What is Foreclosure? Foreclosure is the legal right of a mortgage holder or other third-party lien holder to gain ownership of the property and/or the right to sell the property and use the proceeds to pay off the mortgage if the mortgage or lien is in default. It is a concept that has existed for centuries.
Business expenditures can be divided into capital and revenue expenditures. Capital expenditures are expenditures that produce benefits across multiple time periods, such as the costs to acquire and make ready for use long-term assets.
How to Calculate Depreciation Expense. The following is an excerpt from Accounting Made Simple: Accounting Explained in 100 Pages or Less. When a company buys an asset that will probably last for greater than one year, the cost of that asset is not counted as an immediate expense. Rather, the cost is spread out over several years in a process known as depreciation.