BU127 Study Guide - Final Guide: Intangible Asset, Wnet, Convertible Bond
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BU127 Full Course Notes
Verified Note
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Document Summary
Chapter 8: reporting and interpreting properties, natural resources and intangibles. Chapter 12 - communicating accounting information and analyzing financial statements. Chapter 8: reporting and interpreting properties, natural resources and. Certain businesses specialize in the resale of finished goods, while others rely heavily on natural resources for the production of their goods and services. Running such trades, (lumber and mining for example) requires adequate long-term assets such as property, plant facilities and machinery so as to meet the current and future needs of consumers. The common problem shared among the two types of businesses, however, is deciding what the optimal level of production is. Under producing could result in losses of sales, while overproducing could incur unwanted costs such as storage and obsolescence. Acquisition and maintenance of property, plant and equipment. Ultimately, the term long-lived assets is used when referring to a variety of things, including; property, plant, equipment and other intangible goods that may assist in the production of goods.
