Historical Cost Concept As It Applies To Long Term Operational Assets Essays and Term Papers

  • 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   Leasing, Historical cost, Expense, Finance lease

  • 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   Fair value, Book value, Intangible asset, Depreciation

  • Poa-Historical Cost Concept

    Historical Cost Concept Definition: Historical cost concept is an accounting concept that states that all assets in the financial statement should be reported based on their original cost, at the time of purchase. Example: James buys a building for $2,000,000 ten years ago, the value of the building...

      548 Words | 2 Pages   Historical cost, Expense, Tax deduction, Inventory

  • Concept of Long Term Care

    essay it explains how week one reading changes my concept of long term care. The essay will provide two examples of current events related to long-term care and how it has changed. The paper will focus on examples of current events related to long-term care, and how might these examples increase awareness...

      402 Words | 1 Pages   Nursing home, Long-term care, Disability, Health care

  • Concept of Long Term Care

    Eating Fish and Eye Disease Sandra Hall HCS/438 March 21, 2011 Curtis Ramsey Eating Fish and Eye Disease The New York Times has reported that eating fish in a regular diet has more benefits. The article explains that the Harvard Women’s Health study says people that eat fish once a...

      645 Words | 2 Pages   P-value, Saturated fat

  • Cost Terms, Concepts, and Classifications

    Chapter 2 Cost Terms, Concepts, and Classifications Learning Objectives LO1. Identify and give examples of each of the three basic manufacturing cost categories. LO2. Distinguish between product costs and period costs and give examples of each. LO3. Prepare...

      9399 Words | 53 Pages   Cost of goods sold, Income statement, Inventory, MOH cost

  • Effective Long-Term Cost Reduction

    ‘Effective Long-Term Cost Reduction: a Strategic Perspective’ is a study by Michael D. Shields, and S. Mark Young, that deals with the Cost Reduction Programs that were employed in the late 1970s, and throughout 1980s. The study further sets forth a more viable basis for effective long-term cost reduction...

      842 Words | 3 Pages   Strategic management, Organizational structure, Productivity, Motivation

  • HW2 Long term Assets Answers 2

    ACTG 351 HW #2 (Long-term Assets) 1. At January 1, the balances in Equipment and Accumulated Depreciation were $1,021,500 and $189,900, respectively. At December 31 after adjusting entries, the balances were $1,125,900 and $452,700, respectively. During the year, $148,500 of equipment was acquired and...

      905 Words | 3 Pages   Book value, Interest, Depreciation, Accounts payable

  • Concept of Coaching Classes, Is It Good or Bad in Long Term?

    CONCEPT OF COACHING CLASSES, IS IT GOOD OR BAD IN LONG TERM? John Adams said ‘‘there are two kinds of education, one teaches us how to make living and other how to live’’. A coaching class is the former one, which teaches us how to make living, not to live. Coaching system was recently an extra advantage...

      512 Words | 2 Pages  

  • Historical Overview of Us Govt's Role in Long Term Healthcare

    services for the immigrants. Local Law Enforcement and City and County jails deal with those immigrants that break the law and are having to absorb those costs until they can be handed off to Federal Immigration services for deportation. State and local governments have been handed the problem of illegal...

      1177 Words | 4 Pages   Illegal immigration to the United States, Unfunded mandate, Community mental health service

  • The Use of the Historical Cost Convention and the Accrual Concept for Stewardship and for Decision Making

    A Research Paper on:- “The use of the Historical Cost convention and the accrual concept for stewardship and for decision making” Topic 1: The Historical Cost Convention Introduction The historical cost convention is unarguably one of the most debated topics in the theoretical base of accounting...

      2824 Words | 9 Pages   Historical cost, Basis of accounting, Revenue recognition, Equity (finance)

  • Historical Cost

    for some balance sheet items and for historical cost for other items simply complicates the way in which financial information is presented.The FASB has now prepared a report which recommends that fair value/historical cost be used consistently for a particular business...

      338 Words | 2 Pages   Fair value, Historical cost, Asset, Balance sheet

  • The historical cost

    d) The historical concept The historical cost means assets are recorded at the original cost price to value in the balance sheet, rather than current value. Under this concept, transactions are reported at the £ amount recorded at the date the transactions occurred. Under the historical cost concept...

      389 Words | 2 Pages   Historical cost, Price, Value (economics), Inflation

  • Historical Cost

    The historical cost accounting is an accounting technique that values an asset for balance sheet purposes at the price paid for the asset at the time of its acquisition. It is usually used in combination with other measurement bases. For example, inventories are usually carried at the lower of cost and net...

      2623 Words | 7 Pages   Financial statement, Historical cost, Finance, Fair value

  • Historical Cost

    Notes on Historical Cost Accounting Introduction The purpose of this page is to give a very brief introduction to historical cost accounting: it does so by providing outline ideas to a series of questions: 1 The definition of historic cost accounting 2 The nature of historical cost accounting ...

      764 Words | 3 Pages   Historical cost, Inventory, International Financial Reporting Standards, Tax

  • 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   Income statement, Revaluation of fixed assets, Depreciation, Book value

  • The Historical Cost Convention Used in Historical Cost Accounting

    The historical cost convention used in historical cost accounting, records transaction at the monetary value at the date of transaction (i.e. their historical cost). An asset or liability being measured using the historical cost basis is recognized initially at transaction cost. This convention is used...

      254 Words | 1 Pages   Historical cost, Valuation (finance), Book value, Depreciation

  • Operational costs and savingshe main costs

    Operational costs and savings he main costs and savings of OPS are the following: Savings auxiliary engine fuel Savings maintenance costs Costs electricity charges and taxes Costs standing charges Electricity charges and taxes The average electricity costs reported in studies depend very much on annual...

      651 Words | 2 Pages   Particulates, Air pollution, Fuel oil, Carbon offset

  • Three Concepts That Apply to “Bread”

    jealousy and ambition have perhaps the most influential impact to people and the society they live in. Overall, the article summarizes three important concepts that may affect one’s decision and have great impact to the society; that is the selfishness and selflessness within a person and his compassion to...

      957 Words | 3 Pages  

  • Cost Concepts

    Cost Concepts for Managerial Decision Making Prepared for instructional use in Economics For Managers ECG 507 College of Management North Carolina State Universiy © Stephen E. Margolis 2000 Soon we will be using the concepts of cost...

      4039 Words | 13 Pages   Economics, Microeconomics, Average cost, Long run and short run