Lessor is a participant of the lease who takes possession of the property franchise is the license to make or sell a product
oduct under certain
and provides it as a leasing subject to the lessee for temporary
possession .For example, in leasehold estate, the landlord is the lessor
and the tenant is the lessee. The lessor may be the owner of the
property or an agent authorized on the owner's behalf.
Commercial banks, credit non-bank organizations, leasing companies
often act as lessors.
Leases are contracts in which the property/asset owner allows another
party to use the property/asset in exchange for something, usually
money or other assets. The two most common types of leases in
accounting are operating and financing (capital lease) leases. This step-
by-step guide covers all the basics of lease accounting.
A lessee is a person who rents land or property from a lessor. The
lessee is also known as the "tenant" and must uphold specific
obligations as defined in the lease agreement and by law. The lease is a
legally binding document and if the lessee violates its terms he or she
could be evicted.
Leasehold improvements generally revert to the ownership of the
landlord upon termination of the lease, unless the tenant can remove
them without damaging the leased property.
An example of leasehold improvements is offices constructed in
unfinished office space.
Copy Right An exclusive right granted by the federal government to
publish and sell various works. In accounting a copyright is recorded at
its cost and is reported on the balance sheet as an intangible asset.
Depletion is an accounting and tax concept used most often
in mining, timber, petroleum, or other similar industries.
Depletion is similar to depreciation in that it is a cost recovery system for
accounting and tax reporting. "The depletion deduction" allows an
owner or operator to account for the reduction of a product's reserves.
Leasehold is a form of land tenure or property tenure where one party
buys the right to occupy land or a building for a given length of time. As
lease is a legal estate, leasehold estate can be bought and sold on the
open market.
conditions granted by the owner of these rights. In other words, a
franchise is the right to produce a licensed product by the owner
of the license. In this contact, the franchisee pays the franchiser
for the right to use the licensed material.
Goodwill is a long-term (or noncurrent) asset categorized as an
intangible asset. Goodwill arises when a company acquires
another entire business. The amount of goodwill is the cost to
purchase the business minus the fair market value of the tangible
assets, the intangible assets that can be identified, and the
liabilities obtained I
An intangible asset is an asset that you cannot touch. Examples of
intangible assets include copyrights, patents, mailing lists,
trademarks, brand names, domain names, and so on.
Often the market value of an intangible asset is far greater than
the market value of a company's tangible assets such as its
buildings and e
A patent is a form of intellectual property that gives its owner the
legal right to exclude others from making, using, selling and
importing an invention for a limited period of years, in exchange
for publishing an enabling public disclosure of the invention. In
most countries patent rights fall under civil law and the patent
holder needs to sue someone infringing the patent in order to
enforce his or her rights. In some industries patents are an
essential form of competitive advantage; in others they are
irrelevant equipment.
Amortization is an accounting term that refers to the process of
allocating the cost of an intangible asset over a period of time. It
also refers to the repayment of loan principal over
timeAmortization is most commonly used for the gradual write-
down of the cost of those intangible assets that have a specific
useful life. Examples of intangible assets are patents, copyrights,
taxi licenses, and trademarks. The concept also applies to such
items as the discount on notes receivable and deferred charges.