MGAB02H3 Lecture Notes - Lecture 1: Web Development, Capital Cost Allowance, Patent Infringement
9 Aug 2016
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Mgab02 reporting and interpreting property, plant and equipment; natural resources and. Acquisition and maintenance of property, plant and equipment. Long-lived assets (or long-term/capital assets) are tangible or intangible resources owned by a business and used in its operations to produce benefits over several years. They are acquired, constructed, or developed for use on a continuing basis. They are not normally sold to generate revenue: however there are some exceptions, for instance, a real estate business. Tangible assets (or fixed assets) have physical substance: this classification is most often called property, plant and equipment, there are 4 kinds of tangible assets held for use in operations. Reported on the statement of financial position as a separate item if it has a material value. Reported as a separate item on the statement of financial position or in the notes. Intangible assets have no physical substance: historically called intangibles or other nothings , examples include.
