RSM220H1 Chapter Notes - Chapter 10: Book Value, Capital Asset, European Cooperation In Science And Technology
Document Summary
Ppe is also called tangible capital assets, plant assets, or fixed assets include: long term resources such as. Depreciation is used to refer to amortization of ppe. Depletion for the amortization of mineral resource properties. Term may be used in general sense to refer to the allocation of the cost of any long lived asset to diff acc periods: ppe is defined as. Held for use in the production of goods and services, for rental to others, or for admin purposes. Are used over more than one accounting period and depreciated usually. Are intangible: diff btwn inv and ppe. Used only w specific capital asset and useful for more than one period; Under ifrs= specific standard ias 41 agriculture. Assuming the item meets definition of ppe: accounting standards require that the following 2 reco criteria be met. It is probable that the items associated future economic benefits will flow to the entity.
