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Are deferred financing costs an intangible asset?
Deferred financing costs are not considered intangible assets; instead, they are classified as a contra-liability or an asset on the balance sheet. These costs represent expenses incurred to secure financing, such as loan origination fees, and are capitalized and amortized over the life of the related debt. Unlike intangible assets, which lack physical substance and include items like patents or trademarks, deferred financing costs are directly associated with specific financing arrangements.
What is a charge over assets?
A charge over assets is a legal interest granted by a borrower to a lender as security for a loan or obligation. It allows the lender to claim specific assets of the borrower if they default on the loan. This can include tangible assets like property or equipment, or intangible assets like receivables. The charge ensures that the lender has a priority claim over the specified assets in the event of liquidation or bankruptcy.
What is the accounting journal entry to record loan fees amortized?
Debit: Deferred loan origination fees Credit: Interest income
Current assets and current liabilities Examples?
Current Assets:1 - cash2 - bank3 - inventoryCurrent liabilities:1- accounts payable2 - loan payable3 - tax payable etc
Which describes the process by which assets or equipment decrease in value as an employer pays off the loan used to purchase the equipment?
Depreciation
Is prepaid loan cost is intangible?
It is a prepaid expense to be expensed over time. Not an intangible.
What is a charge over assets?
A charge over assets is a legal interest granted by a borrower to a lender as security for a loan or obligation. It allows the lender to claim specific assets of the borrower if they default on the loan. This can include tangible assets like property or equipment, or intangible assets like receivables. The charge ensures that the lender has a priority claim over the specified assets in the event of liquidation or bankruptcy.
Defines the term amortization?
the process of decreasing the amount of principal on a loan over a scheduled period of time
How can you get the papers stating that you have a deferred loan?
Contact your loan holder.
How will a deferred payment look on your credit?
If it is a student loan, there will be a statement on the credit report. It will also show the date that payments were deferred.
What is substitute word for amortization in English?
There is none. "Amortization" is a very specific term that relates to: A) The application of the cost of an intangible asset over time (akin to depreciation for a fixed asset or physical asset). A good example of intangible assets would be Goodwill or Patents. B) The application of interest to a loan balance. The most common example in this case is an "Amortization Schedule" which you can use to predict / estimate a loan balance at a certain point in time, given that the assumptions and facts are correct. IE payments were made on time, for the proper amounts, etc.
What is deferred period?
A deferred period is a set period of time over which something has been delayed by agreement, for example... His student loan payments were deferred for a further twelve months.
Can you get a direct loan deferred if you am using it for your studies?
Yes, you can get a direct loan deferred (or temporarily stop making payments) if you are using it for your studies, IF you meet certain requirements. If you do not meet the requirements, you may be eligible for Forbearance.
Can you can be repo behind a deferred payment plan?
No. Because the loan is deferred. meaning its post poned. which means you should not have to make payments until they change the status of the loan deferrement. Ex: with my student loans they are deferred until I'm done with college or i stop going to school
If you get cash from a 2nd mortgage loan for a rental property can you add the cash amount to your cost basis and depreciate it even if you use the money for personal use?
No for many reasons. One, you depreciate tangible assets...a loan is not an asset...if you purchased additions to the property, those would be assets you could depreciate. Cash is intangible. If anything, taking money out of a property would decrease your basis, not increase it! You create the depreciable asset by buying it...not the opposite. You understand you have to recapture depreciation at ordinary rates on sale too, don't you?
Is there any law or authority on how a credit agency can score for a deffered student loan and this is not un unpaid loan just deferred?
No.
What types of assets can be used to get a secured loan?
The assets someone need to own to use as securities for a secured loan would be anything equal to value of the loan such as a car.
