ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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ORGANIZATION COST Definition
ORGANIZATION COST is amounts spent to begin a business entity, e.g., business filing fees, franchise acquisition, and legal fees. In the United States, costs associated with a corporation issuing or selling shares or other securities are capitalized and not tax deductible. Other organization expenses may be capitalized and amortized over a period of sixty (60) months or more; thereby providing possible tax relief through organization cost deductions. See also STARTUP COSTS.
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LAND, in terms of accounting, is the value of real estate less the value of improvements, e.g. buildings.
FIRM is members of a business organization that owns or operates one or more establishments, e.g. a legal or accounting firm.
