In this paper, we argue that bank accounts are considered to be debt obligations and therefore
intangible assets. In order to support this argument, we need to link debt obligations (which
were previously shown to be intangible per Section 2511) to bank accounts. That is, we need to
show that bank accounts are considered to be debt obligations. This is not difficult to prove as
bank accounts are the result of one party (could be an individual or business) depositing funds
into a financial institution that is permitted to accept such deposits. When the deposit is made,
the individual depositing the funds (from an accounting reporting stand point of view) debits
“Cash at the bank” or “Cash receivable from the bank” and credits “Cash on hand”. That is,
when the individual deposits funds into the bank, there is a reallocation or transfer from “Cash
on hand” to “Cash at the bank”. The “cash on hand” is a tangible asset as it represents physical
currency such as bills and coins. The “cash at the bank” is considered intangible as it represents
promise by the bank to repay these funds in the future. That is, the “cash at the bank” actually
represents a receivable from the bank. Per IRS Section 2511, such promises to pay, which
represent obligations by one party to another are considered debt obligations and therefore
intangible in nature. To further support this analysis, we could analyze journal entries from the
point of view of the financial institution accepting the deposit. When a customer makes a
deposit, the bank needs to debit “Cash received from customer” or “Cash on hand” and credit
“Customers deposits”. The credit side or the customer’s deposits is considered to be a liability
In this paper, we argue that bank accounts are considered to be debt obligations and thereforeintangible assets. In order to support this argument, we need to link debt obligations (whichwere previously shown to be intangible per Section 2511) to bank accounts. That is, we need toshow that bank accounts are considered to be debt obligations. This is not difficult to prove asbank accounts are the result of one party (could be an individual or business) depositing fundsinto a financial institution that is permitted to accept such deposits. When the deposit is made,the individual depositing the funds (from an accounting reporting stand point of view) debits“Cash at the bank” or “Cash receivable from the bank” and credits “Cash on hand”. That is,when the individual deposits funds into the bank, there is a reallocation or transfer from “Cashon hand” to “Cash at the bank”. The “cash on hand” is a tangible asset as it represents physicalcurrency such as bills and coins. The “cash at the bank” is considered intangible as it representspromise by the bank to repay these funds in the future. That is, the “cash at the bank” actuallyrepresents a receivable from the bank. Per IRS Section 2511, such promises to pay, whichrepresent obligations by one party to another are considered debt obligations and thereforeintangible in nature. To further support this analysis, we could analyze journal entries from theจุดของมุมมองของสถาบันการเงินที่รับฝาก เมื่อลูกค้าทำการเงินฝาก ธนาคารต้องเดบิต "เงินสดที่ได้รับจากลูกค้า" หรือ "เงินสดคงเหลือ" และสินเชื่อ"ลูกค้าเงินฝาก" ด้านสินเชื่อหรือเงินฝากของลูกค้าถือเป็นความรับผิดชอบ
การแปล กรุณารอสักครู่..