Due to the amount invested in fixed assets in many companies, there may be a specific person assigned within the accounting, finance, or controllers department to keep track of property, plant, and equipment. This person may be called a fixed asset accountant, property accountant, or may have some other similar title. This accountant's primary responsibility is to maintain the official fixed assets records for the business or organisation. This may be a full-time position in a company that has a
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CHAPTER 10 Acquisition and Disposition of Property, Plant, and Equipment ASSIGNMENT CLASSIFICATION TABLE (BY TOPIC) Topics Questions Brief Exercises 1, 2, 3, 4, 5, 13 Concepts Problems for Analysis 1. Valuation and classification of land, buildings, and equipment. 1, 2, 3, 4, 6, 7, 12, 13, 15, 21 2. Self-constructed assets, capitalization of overhead. 5, 8, 20, 21 4, 6, 12, 16 3. Capitalization of interest. 8, 9, 10, 11, 2, 3, 4 13, 21 4, 5, 7, 8,
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000,000 | 97,240,000,000 | Net Property, Plant & Equipment | 72,530,000,000 | 71,160,000,000 | 75,470,000,000 | Property, Plant & Equipment - Gross | 138,490,000,000 | 139,810,000,000 | 14,810,000,000 | Buildings | 62,810,000,000 | 6,130,000,000 | 64,310,000,000 | Land & Improvements | 13,980,000,000 | 13,840,000,000 | 13,840,000,000 | Computer Software and Equipment | - | 6,520,000,000 | 6,860,000,000 | Other Property, Plant & Equipment | 9,150,000,000 | 960,000,000 |
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Chapter 9 Plant Assets, Natural Resources, and Intangible Assets STUDY OBJECTIVES After studying this chapter, you should be able to: 1 Describe how the cost principle applies to plant assets. 2 Explain the concept of depreciation. 3 Compute periodic depreciation using different methods. 4 Describe the procedure for revising periodic depreciation. 5 Distinguish between revenue and capital expenditures, and explain the entries for each. 6 Explain how to account for the disposal of a plant asset.
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Laxapana Batteries PLC Annual Report 2010 / 2011 Our Mission “Our mission is to provide best value energy generating products” To our shareholders - We will continuously improve our manufacturing capabilities and technology as part of our growth strategy and thereby improve profits and return on investment. To our customers - We will provide high quality products that will consistently meet customer expectations. To our employees - We will create a work environment where employees will be
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CHAPTER 5 Balance Sheet and Statement of Cash Flows ASSIGNMENT CLASSIFICATION TABLE (BY TOPIC) Topics 1. Disclosure principles, uses of the balance sheet, financial flexibility. Classification of items in the balance sheet and other financial statements. Questions 1, 2, 3, 4, 5, 6, 7, 10, 18, 22, 23, 25 11, 12, 13, 14, 15, 16, 18, 19 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11 1, 2, 3, 8, 9, 10 Brief Exercises Exercises Problems Concepts for Analysis 4, 5 2. 1, 2, 3 3. Preparation of balance
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Sirius Case Part 1 1. Sirius Satellite Radio, Incorporated provides satellite radio in the United States. They offer 133 channels-69 channels of 100% commercial-free music and 64 channels of sports, news, talk, entertainment, traffic, weather, and data content to their subscribers. When comparing Sirius Satellite Radio to that of traditional AM/FM broadcast radio stations, they have many competitive advantages. Some of these competitive advantages include broadcast reception paid for by subscription
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11 Property, Plant, and Equipment and Intangible Assets: Utilization and Impairment Questions for Review of Key Topics Question 11-1 The terms depreciation, depletion, and amortization all refer to the process of allocating the cost of property, plant, and equipment and finite-life intangible assets to periods of use. The only difference between the terms is that they refer to different types of these long-lived assets; depreciation for plant and equipment, depletion
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non-current assets discussion. Valuing tangible non-current assets can be subjective and complicated. This essay explains it from two aspects, costs of PPE and depreciation respectively, under the international accounting standards. Property, plant and equipment are the representative of tangible non-current assets which commonly are held by business entity. When to value assets the definition from the outset that should be understood is carrying account. According to IAS16, carrying amount is
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Information 3 Registered Office 3 Auditors 3 Board of Directors 4 Consolidated Report 4 Cost of Sales for the Year 4 Profit before Tax 4 Income Tax Expense Amount 4 Net Accounts Receivable 5 Method used for bad debts 5 Property, Plant and Equipment (PPE) 6 Depreciation Method 6 Book Value 6 Depreciation Expense 7 Long-Term Liabilities 7 Contingent Liabilities 8 Issued Capital Amount 8 Liquidity of the Company 8 Current Ratio 9 Quick Ratio 9 Accounts Receivable
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