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L1 30 Long-Lived Assets > d calculate depreciation expense; > Flashcards

d calculate depreciation expense; Flashcards

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L1 30 Long-Lived Assets (12 decks)

C describe the different depreciation methods for property, plant, and equipment, the effect of the choice of depreciation method on the financial statements, and the effects of assumptions concerning useful life and residual value on depreciation expense;

A Dist. between costs that are capitalized and costs that are expensed in the period in which they are incurred

B Compare the financial reporting of the following types of intablible assets: purchased, internally developed, acquired in a business combination

E describe the different amortization methods for intangible assets with finite lives, the effect of the choice of amortization method on the financial statements, and the effects of assumptions concerning useful life and residual value on amortization expense;

F Calc. Amort. Expense. ex 217

G Describe the Revaluation Model

H Explain the imparment of property, plant, and equipment and intangible assets

I Explain the derecognition of PPE and intangible assets

J Describe the financial statement presentation of and disclosures relating to PPE and intangible assets

K Compare the Financial Reporting of Investment property w/ that of PPE

d calculate depreciation expense;

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