TAILIEUCHUNG - Lecture Intermediate accounting (13th edition): Chapter 11 - Kieso Weygandt, Warfield

After completing this chapter you should be able to: Explain the concept of depreciation, identify the factors involved in the depreciation process, compare activity, straight-line, and decreasing-charge methods of depreciation, explain special depreciation other contents. | C H A P T E R 11 DEPRECIATION, IMPAIRMENTS, AND DEPLETION Intermediate Accounting 13th Edition Kieso, Weygandt, and Warfield Explain the concept of depreciation. Identify the factors involved in the depreciation process. Compare activity, straight-line, and decreasing-charge methods of depreciation. Explain special depreciation methods. Explain the accounting issues related to asset impairment. Explain the accounting procedures for depletion of natural resources. Explain how to report and analyze property, plant, equipment, and natural resources. Learning Objectives Depreciation Factors involved Methods of depreciation Special methods Special issues Impairments Depletion Presentation and Analysis Recognizing impairments Measuring Impairments Restoration of loss Assets to be disposed of Presentation Analysis Establishing a base Write-off of resource cost Estimating reserves Liquidating dividends Continuing controversy Depreciation, Impairments, and Depletion Allocating costs of long-term assets: Fixed assets = Depreciation expense Intangibles = Amortization expense Natural resources = Depletion expense Depreciation is the accounting process of allocating the cost of tangible assets to expense in a systematic and rational manner to those periods expected to benefit from the use of the asset. Depreciation - Method of Cost Allocation LO 1 Explain the concept of depreciation. Depreciation - Method of Cost Allocation LO 2 Identify the factors involved in the depreciation process. Three basic questions: Factors Involved in the Depreciation Process What depreciable base is to be used? What is the asset’s useful life? What method of cost allocation is best? Depreciation - Method of Cost Allocation LO 2 Identify the factors involved in the depreciation process. Depreciable Base Factors Involved in the Depreciation Process Illustration 11-1 Depreciation - Method of Cost Allocation LO 2 Identify the factors involved in the depreciation process. Estimation of Service Lifes .

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