1 What Is Included In The Cost Basis Of A Long Lived Asset Explain For At Least Two Types Of Such Assets Essays and Term Papers

  • Asset Impairment of Long Lived Assets

    Cruise Ship Estimated Fair Value Net Book Value Net Carrying Value Nonrecourse Debt Net Working Capital (Directly Attributable) Remaining Useful Life of Asset $3.0 $4.6 $4.0 $0.1 5 years Management is considering three options for the future • Continue normal operations in current area • Move operations...

    1357 Words | 16 Pages

  • Long-Lived Assets

    Long-Lived Assets Long-term assets are defined as resources with economic lives of more than a year that a business possesses and uses in generating revenue. The cost of long-term assets is recognized as an expense in the accounting periods in which the assets are used. The cost of all Long-Lived Assets...

    324 Words | 1 Pages

  • Accounts Receivable, Inventory, Long-lived Assets, Bonds

    Receivable, Inventory, Long-lived Assets, Bonds) 1. GNC has the following information regarding the inventory of its Super Mega, a multivitamins. Assume GNC uses periodic inventory system each quarter and FIFO. a. On July 1, GNC had 200 bottles of Super Mega in stock. Each bottle costs $3. b. On July 15...

    1121 Words | 6 Pages

  • Asset 1

    Assets 2 (Intangible Assets) Based on Week 4 Due Week 5 (due 22th August) Practical Question (10 marks): 1. Yes, if these fishing licenses are freely transferable, they can be revalued at fair value. According to AASB138: Intangible asset may be revalued only if there is an ‘active market’, in...

    259 Words | 1 Pages

  • Long-Term Asset Impairment

    121 "Accounting for the Impairment of Long-Lived Assets and for Long-Lived Assets to Be Disposed Of". The statement established accounting standards for the impairment of long-lived assets, certain identifiable intangibles, and goodwill related to those assets to be held and used. The statement also...

    2283 Words | 6 Pages

  • Long Term Asset

    revaluation model The revaluation model is an alternative to the cost model for the periodic valuation and reporting of long-lived assets. IFRS permit the use of either the revaluation model or the cost model, while under GAAP; only the cost model is permitted. Revaluation model changes the carrying amount...

    1848 Words | 7 Pages

  • Cost Principle for Asset Evaluation

    Cost Principle for Computing the Cost of Plant Assets Plant assets are recorded at cost when acquired. This is consistent with the cost principle. Cost includes all normal and reasonable expenditures necessary to get the asset in place and ready for its intended use. The cost of a factory machine, for...

    563 Words | 2 Pages

  • Asset transformation & transaction cost

    credit unions, insurance companies and pension funds. The existence of financial intermediaries helps to solve and reduce market imperfections. Asset transformation theory deals with difference in the preferences of lenders and borrowers. Lenders also known as savers, prefers to have low risk and...

    466 Words | 2 Pages

  • What Is an Asset and Expense?

    1 What is an Asset? An asset is an item that a company owns. Assets are divided into three basic groups: capital assets, current assets and intangible assets. Capital assets are typically owned for the long term and include buildings, land, vehicles and manufacturing equipment. Current assets are...

    1110 Words | 5 Pages

  • Asset Classes Paper 1

    Head: ASSET CLASSES PAPER Asset Classes Paper Stacey Browning University of Phoenix Asset Classes Paper Investment portfolios consist of investment assets and these investment assets are categorized into broader classes known as asset classes (Bodie et al, 2008). Asset classes...

    1035 Words | 3 Pages

  • Asset Valuation Paper 1

    educational assistance toys, computers, bicycles, motorized children¡¦s vehicles, and cribs. Each store will also contain a section that will consist of all types of candy, baby foods and formulas. Prior to the opening of the first store, it is necessary to evaluate and begin policy implementation for inventory...

    1384 Words | 5 Pages

  • Figuring Life, Cost and Disposing of Assets

    Figuring Life, Cost and Disposing of Assets Cynthia L. Mills XACC-291/Financial Accounting September 14, 2014 Marjorie Levy Figuring Life, Cost and Disposing of Assets A business must generate financial statements yearly to review their financial status. There are assets within a company,...

    508 Words | 4 Pages

  • What Is Meant Be the Term “Intangible Asset?”

    What is meant be the term “intangible asset?” Intangible assets are defined as identifiable non-monetary assets that cannot not be seen, touched or physically measured, which are created through time and/or effort and that are identifiable as a separate asset. Corporate intellectual property (items...

    1363 Words | 5 Pages

  • What to DO ABOUT ASSET BUBBLES

    UNIVERSITY OF JOHANNESBURG What to DO ABOUT ASSET BUBBLES Michael Treherne 200800110 20/10/2011 Table of Contents List of figures ..................................................................................................................................... 2 Introduction ............

    4337 Words | 14 Pages

  • Explain what criminalistics is and the basis for their actions.

    important component of the work performed by chemists in the Criminalistics Unit. Members of the Criminalistics Section examine evidence with many types of crimes, such as shootings, beatings, stabbings, sexual assaults, hit and runs, murders, and breaking and entering cases just to name a few. Some...

    738 Words | 6 Pages

  • Explain What Criminology Is and Give an Account of at Least Two Different Theories That Claim to Explain Criminal Behaviour

    Explain what Criminology is and give an account of at least two different theories that claim to explain Criminal Behaviour This essay is going to explain a crime definition, criminology development and two different crime theories: biological and psychological. Crimes have been an inseparable companion...

    1197 Words | 4 Pages

  • Assets

    It’s the arm. You wouldn’t think of it as a asset like that would you. But it’s the arm. You want to see it? You won’t get disgusted? Well here it is. Here’s the arm. This is why I go by the name Johnny One-Arm. I made it up, not anybody being, like, hard-hearted—me. I see how you’re trying to be polite...

    1076 Words | 3 Pages

  • Asset

    secondary ( Graduation ( Post Graduation ( Doctorate ( Professional ( Any other Q: 1 How long you are working with the present organization (in years) ( Less than 1 year ( 1-3 yrs (3-5 yrs ( 5-7 yrs ( 7 & more Q.2 Do you maintain regular data of customers. (Yes...

    1216 Words | 10 Pages

  • A Long Time Ago There Lived Two Mice In

    A long time ago there lived two mice in a far away land called City of Creatures. These two mice had set out on a journey across town to the promised land of limitless food. One of the mice was a kind hearted mouse, if it was up to him, he would rather see his friend succeed in the journey than him...

    572 Words | 2 Pages

  • Two Types of Cost Accounting Systems

    Chapter 2 (17) Discussion questions. Please answer all of the questions. a. Name two principal types of cost accounting systems. Two types of cost accounting systems are process cost systems and job order cost system. b. Which system provides for a separate record of each particular quantity...

    528 Words | 3 Pages