MGTA35H3 Final: MGAB02H3 - Final Exam
Document Summary
Reporting and interpreting long-lived assets: property, plant, and equipment; natural. Property, plant, and assets (ppe0 are assets used to generate revenue (not for speculative reasons): land, building, equipment long-term assets not included in ppe are called long-term investments (to be sold or used in the future) Classification of long-term assets: actively used in operations (production or sale of another asset or services, expected to benefit future periods (greater than 1 year) *assets held for sale or for future use are not classified as plant and equipment, but as long- term investment. Land (non-depreciable asset), assets subject to amortization (building and equipment and furniture and fixtures), natural resource assets are subject to depletion (mineral deposits and timber) Value represented by rights that produce benefits (patents, copyrights, trademarks, franchises, goodwill) Acquisition cost includes the purchase price and all expenditures needed to prepare the asset for its intended use. Does not include financing charges except for self-constructed assets.
