MGAB01H3 Lecture : Statement Presentation of Capital Assets

• School: UTSC
• Department: Financial Accounting
• Course: MGAB01H3
• Professor: Liang Chen

Document Summary

Property, plant, and equipment, natural resources, and intangible assets may be listed separately under the heading capital assets. Natural resources are commonly grouped under the property, plant, and equipment. Goodwill should be presented separately in the balance sheet, and other intangible can be grouped as a one line item on the balance sheet. Net sales / average total assets = asset turnover. Net income / average total assets = return on assets (%) Capital assets are long-lived assets acquired for use in the operation of a business. Tangible capital assets include: property, plant, equipment, and natural resources.