AMORTIZATION EXPENSE Definition

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AMORTIZATION EXPENSE is the allocation to expenses of the cost of an intangible asset such as goodwill, a patent, bond issue costs, etc.

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STATEMENTS on STANDARDS for ACCOUNTING and REVIEW SERVICES (SSARS) are pronouncements concerning unaudited financial information of a nonpublic entity issued by the AICPA Accounting and Review Services Committee. 

ECONOMIC LIFE is the time period over which an asset(s) may generate economic benefits.

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