Asset Recognition and Measurement | Financial Accounting

In this video, we'll explore the asset recognition and measurement process. We'll start with a high-level review of what assets actually are, then go into how to recognize an asset in a financial statement, and how to measure and report the value of an asset.

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00:00 Intro
00:30 What is an asset?
1:30 How to recognize an asset
04:02 Why is asset recognition important?
04:12 Common mistakes
05:14 Asset measurement
07:06 Recap