TAILIEUCHUNG - Lecture International accounting: Chapter 8 - Nguyễn Quốc Nhất

Lecture "International accounting - Chapter 8: Plant assets and intangible" has content: Mesuring a the cost of a plant asset, depreciation, displosing the plant asset, displosing the plant asset, accounting for intangible assets, ethical issue. | IFA Chapter 8: Plant Assets and Intangible Plant Assets and Intangible LOGO International Accounting of Financial MA. Nguyen Quoc Nhat Nguyen Quoc Nhat – Learning Objectives Chapter’s content Learning Objectives Measure the cost of a plant asset Account for depreciation Record the disposal of an asset by sale or trade Account for natural resources Account for intangible assets Describe ethical issues related to plant assets Nguyen Quoc Nhat – Company Logo Company Logo Mesuring a the cost of a plant Asset Mesuring a the cost of a plant Asset Depreciation Displosing the plant Asset Accounting for natural Resources Accounting for Intangible Assets Ethical Issue Company Logo Mesuring a the cost of a plant Asset The cost principle says to carry an asset at its historical cost—the amount paid for the asset. The rule for measuring cost is as follows: Cost of an asset = Sum of all the costs incurred to bring the asset to its intended purpose, net of all discounts Land and land Improvements Company Logo The cost of land is not depreciated. It includes the following costs paid by the purchaser: ● Purchase price ● Brokerage commission ● Survey and legal fees ● Property taxes in arrears ● Taxes assessed to transfer the ownership (title) on the land ● Cost of clearing the land and removing unwanted buildings Company Logo 1 IFA Chapter 8: Plant Assets and Intangible Mesuring a the cost of a plant Asset The cost of land does not include the following costs: ● Fencing ● Paving ● Sprinkler systems ● Lighting ● Signs Suppose Smart Touch needs property and purchases land for $50,000 with a note payable for the same amount. Smart Touch also pays cash as follows: $4,000 in property taxes in arrears, $2,000 in transfer taxes, $5,000 to remove an old building, and a $1,000 .

• Kế toán - Kiểm toán
• Lecture International accounting
• International accounting
• Plant assets and intangible
• Mesuring a the cost
• Displosing the plant asset
• Displosing the plant asset
• International convergence
• Financial reporting
• International accounting standard
• International federation of accountants
• Comparative accounting
• Accounting environment
• Accounting profession
• Accounting regulation
• Kế toán quốc tế
• Bài giảng Kế toán quốc tế
• International taxation
• International business decisions
• Corporate income tax
• Tax jurisdiction
• Corporate governance
• International trends
• International diversity
• The adjusting process
• Accrual accounting versus cash basis
• Other accounting principles
• Two categories of adjusting entries
• The adjusted trial balance
• Completing the accounting cycle
• The worksheet
• Closing the accounts
• Classifying assets
• Liabilities and payrol
• Current liabilities of known amount
• Current liabilities
• Accounting for payroll
• Worldwide accounting diversity
• Accounting diversity
• Inflation accounting
• Inflation accounting internationally
• Consolidated financial statements
• Foreign capital markets
• Financial statements
• Auditing research
• Accounting research
• International research
• Environment of international research
• International accounting environment
• International accounting standards board
• Merchandise inventory
• Accounting principles
• Inventory costing methods
• Inventory accounting
• International business
• Foreign customer
• International financial reporting standards
• Intangible assets
• International transfer pricing
• Cost minimization
• International corporate social reporting
• Corporate social reporting
• Foreign exchange risk
• Foreign direct investment
• Intangibles acquired
• Internally generated intangibles
• Performance evaluation
• Transfer pricing
• External reporting
• Regulating CSR practices