ACCTG300 Lecture Notes - Lecture 9: Book Value, Westjet, Matching Principle

44 views6 pages

Document Summary

Chapter 9 - reporting and analyzing long-lived assets ignore impairments on page 569 - 470 cost model vs. revaluation on page 470 - 471. Pp&e because they provide bene ts over many years, you put them in pp&e instead of just expensing them. In addition, its usefulness and revenue producing ability generally remain intact, or increase. Land improvements the cost of structural additions made to the land - e. g. paving, fencing these usually decline in service potential over time recorded separately from land depreciated over useful life. Equipment costs include: purchase price provincial sales tax - if applicable freight charges and insurance during transit if paid by the purchaser assembling installing and testing. Relative market valuation get someone to give you a fair value market assessment need to put land into own class because it is not depreciating building has different life than equipment usually.

Get access

Grade+20% off
$8 USD/m$10 USD/m
Billed $96 USD annually
Grade+
Homework Help
Study Guides
Textbook Solutions
Class Notes
Textbook Notes
Booster Class
40 Verified Answers
Class+
$8 USD/m
Billed $96 USD annually
Class+
Homework Help
Study Guides
Textbook Solutions
Class Notes
Textbook Notes
Booster Class
30 Verified Answers

Related Documents