CHAPTER 10 Plant Assets, Natural Resources, and Intangible Assets ASSIGNMENT CLASSIFICATION TABLE Brief Exercises 1, 2 A Problems 1A B Problems 1B Study Objectives 1. Describe how the cost principle applies to plant assets. Explain the concept of depreciation. Compute periodic depreciation using different methods. Describe the procedure for revising periodic depreciation. Distinguish between revenue and capital expenditures, and explain the entries for each. Explain how to account for the disposal
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[pic] [pic] |Financial Ratios |2009 |2010 | |PROFITABILITY RATIOS
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valued at $115,000. That’s what it’s worth. Or, at a minimum, at $106,000.” Respond to this statement with specific reference to the accounting principles applicable in this situation. The concept of historical cost determines the balance sheet valuation of land. The realization concept requires that a transaction has occurred for the profit to be recognized. 4. Identify the accounting principle(s) applicable to each of the following situations: a. Tim Roberts owns a bar and a rental apartment
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A N N U A L R E PO RT 2 0 0 8 Message from the President Throughout its history in the home entertainment arena, Nintendo has created unique hardware and software as one integrated entertainment product, with software being the primary driver. Nintendo has focused its basic strategy on expanding the worldwide gaming audience. To achieve this, Nintendo is encouraging as many people as possible around the world, through its unique hardware and software offerings, to experience and enjoy video
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purchase of property, plant and equipment is called capital expenditure. Such an expenditure is capitalized which means it is recorded on the balance sheet instead of writing it off against revenues on income statement. The capitalized cost of an item of property, plant and equipment include, the invoice price of the plant paid to the supplier; the freight paid to bring the plant to the installation site, the installation fees paid to the engineers, the cost incurred on testing the plant minus related proceeds
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Long-Lived Assets • Tangible asset • Asset with physical substance • Property, plant, and equipment = fixed asset. • Intangible asset • Intellectual property. • No physical substance • Examples are patent rights, copyrights 2 Amortization • View capital asset as bundle of services • Similar to prepaid expenses, cost is expensed as company benefits from the services • • • • Land - no depreciation Plant and equipment - depreciation Natural resources - depletion Intangible assets -
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Table of Contents: Pg. 3…………………………………………………………………………………………….Introduction Pg. 4…………………………………………………………………………………………….P, P, &E Pg. 4…………………………………………………………………………………………….Figure 1: P,P,&E Balance Sheet Pg. 5…...............................................................................................Figure 2: Depreciation Life Pg. 5……………………………………………………………………………………………..Income Tax Depreciation Pg. 5……………………………………………………………………………………………..Intangible Assets Pg. 6….............................
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Credit Assessment of SME using both Template and Non-Template Structures SIP Project Report Submitted in Partial Fulfilment of the Requirements for the PGDM Programme By Atul Pranay 2013066 Supervisors: 1. Mrs. Shilpa Rane 2. Dr. Rajnandan Patnaik Institute of management Technology, Nagpur 2013-14 Acknowledgement I feel a deep sense of gratitude in thanking all those who helped me to carry out this project to its eventual accomplishment. I sincerely
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Unit 1 Introduction to Financial Accounting Learning Outcome After reading this unit, you will be able to: • Explain succinctly financial accounting concepts • Elucidate on different principles of financial accounting • Explicate the importance and scope of financial accounting • Understand Generally Accepted Accounting Principles(GAAP) • Identify limitations of Financial Accounting Time Required to Complete the unit 1. 2. 1st Reading: It will need 3 Hrs for reading a unit 2nd Reading
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Financial Accounting Pilot Paper from December 2011 onwards Time allowed: 2 hours ALL 50 questions are compulsory and MUST be attempted. Do NOT open this paper until instructed by the supervisor. This question paper must not be removed from the examination hall. The Association of Chartered Certified Accountants Paper F3 Fundamentals Pilot Paper – Knowledge Module ALL 50 questions are compulsory and MUST be attempted Please use the space provided on the inside cover of the
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