recording noncompete liability
how do i record the amount paid for a noncompete agreement
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bIh64etIOr3QVhacfA8pyY
05/31/09 2:32pm PDT
Viewed by asker 06/01/09 12:39pm PDT
Viewed by asker 06/01/09 12:39pm PDT
3 Replies
djo
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05/31/09 5:34pm PDT
Record it as an asset and amortize it over the term of the agreement.
djo
Questions asked: 6
Questions answered: 223
Points earned: 526
Questions answered: 223
Points earned: 526
Advanced Certified ProAdvisor
These ProAdvisors have successfully completed extended training, distinguishing themselves as highly proficient QuickBooks experts.
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Certified ProAdvisors have successfully completed an extensive and rigorous QuickBooks certification program.
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Advisory council of Accountant community power users.
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05/31/09 5:36pm PDT
Best Answer - Chosen by the Community
This applies only if the non compete meets certain condition.
