C01 Depreciation, Impairments, and Disposition.pdf

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Department
Financial Accounting
Course
MGAC01H3
Professor
Daga Sandra
Semester
Winter

Description
MGAC01 Intermediate Accounting IS Daga TOPIC Depreciation ImpairmentDisposition TEXTE119 P114 P118 P1112 WA116LEARNING GOALS 1 Calculate depreciation 2 Calculate and measure impairment of assets 3 Calculate and measure disposition of assetsCLASS OUTLINE Depreciation is a cost allocation of a Property PlantEquipment asset in a systematic way to those periods expected to benefit from its use Although an assets value changes over time it is still useful to use a cost allocation approach rather than a valuation approach which can be costly and difficult to do at each year endDepreciationterm used for cost allocation of property plantequipmentDepletionterm used for cost allocation of natural resourcesAmortizationterm used for cost allocation of intangibles
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