TAILIEUCHUNG - Lecture Accounting principles (8E): Chapter 10 - Coby Harmon

After completing this chapter you should be able to: Describe how the cost principle applies to plant assets, explain the concept of depreciation, compute periodic depreciation using different methods, describe the procedure for revising periodic depreciation,.and other contents. | PLANT ASSETS, NATURAL RESOURCES, AND INTANGIBLE ASSETS Accounting Principles, Eighth Edition CHAPTER 10 Describe how the cost principle applies to plant assets. Explain the concept of depreciation. Compute periodic depreciation using different methods. Describe the procedure for revising periodic depreciation. Distinguish between revenue and capital expenditures, and explain the entries for each. Explain how to account for the disposal of a plant asset. Compute periodic depletion of natural resources. Explain the basic issues related to accounting for intangible assets. Indicate how plant assets, natural resources, and intangible assets are reported. Study Objectives 1. On the topic, “Challenges Facing Financial Accounting,” what did the AICPA Special Committee on Financial Reporting suggest should be included in future financial statements? Non-financial Measurements (customer satisfaction indexes, backlog information, and reject rates on goods purchases). Forward-looking Information Soft Assets (a company’s know-how, market dominance, marketing setup, well-trained employees, and brand image). Timeliness (no real time financial information) Plant Assets Determining the cost of plant assets Depreciation Expenditures during useful life Plant asset disposals Natural Resources Intangible Assets Statement Presentation and Analysis Presentation Analysis Accounting for intangibles Research and development costs Plant Assets, Natural Resources, and Intangible Assets Depletion Service Cost - Actuaries compute service cost as the present value of the new benefits earned by employees during the year. Future salary levels considered in calculation. Interest on Liability - Interest accrues each year on the PBO just as it does on any discounted debt. Actual Return on Plan Assets - Increase in pension funds from interest, dividends, and realized and unrealized changes in the fair market value of the plan assets. Amortization of Unrecognized Prior Service Cost - The cost of .

• Kế toán - Kiểm toán
• Lecture Accounting principles
• Accounting principles
• Plant assets
• Natural resources
• Intangible assets
• Revising periodic depreciation
• Fundamental accounting principles
• Lecture Fundamental accounting principles
• Accounting information systems
• Fundamental system principles
• Technology based accounting systems
• Accounting information
• Financial accounting
• Managerial accounting
• Managerial cost
• Reporting manufacturing activities
• Merchandising operations
• Accounting cycle
• Completing the accounting cycle
• Classified balance sheet
• Accounting for partnerships
• Partnership form of organization
• Basic partnership accounting