权责发生制会计财务报表.pdf

Learning Objectives (LO) After studying this chapter, you should be able to Distinguish a ’ penses from expenditures that it should capitalize Measure the acquisition cost of tangible assets such as land, buildings, and equipment Compute depreciation for buildings and equipment using various depreciation methods Recalculate depreciation in response to a change in estimated useful life or residual value Differentiate financial statement depreciation from e tax depreciation 2 of 40 Learning Objectives (LO) After studying this chapter, you should be able to 7. Account for expenditures af cquisition 8. Compute gains and losses on disposal of fixed assets and consider the impact of these gains and losses on the statement of cash flows 9. Determ he balance sheet valuation of tangible assets for companies who use the revaluation method allowed under IFRS 10. Account for the impairment of tangible assets 11. Account for intangible assets, luding impairment 12. Ex in the reporting for goodwill 13. Interpret depletion of natural resources 3 of 40 Overview of Long-lived Assets • Long-lived assets (LLA) – Used over a period longer than an operating cycle – As a percentage of total assets, vary considerably depending on the industry – Divisible into tangible and intangible categories • Tangible assets - physical (can see and touch) – Land – Natural resources – Buildings – Equipment 4 of 40 Overview of Long-lived Assets • Intangible assets – Lack physical substance