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Kultur Dokumente
ng for
inventory
tax
considera
tion
TOPIC VII:
Long-Lived
Nonmonetary Assets
1
http://www.youtube.com/watch?v=7g_d-phoUrU
http://www.youtube.com/watch?v=n9jGDGx9Nv4
1.
2.
3.
4.
5.
6.
Method of Converting
to Expense
Type of Asset
Tangible assets:
Land
Plant and equipment
Natural resources
Intangible assets:
Goodwill
Patents, copyrights, etc.
Leasehold improvements
Deferred charges
Research & development costs
not amortized
depreciation
depletion
amortization*
amortization
amortization
amortization
not capitalized**
4
IAS
IFRS
a) Initial value:
Purchaising cost
Production cost
Fair-value
Utility value
b) Subsequent value:
Reevaluation value
Deveploment
7
Purchase price
Sales tax
Transportation costs
Installation cost
Useful Life
Salvage Value
(a) Straight-Line.
(b) Units-of-Activity.
10
The
Theexpected
expectedamount
amountto
to
be
berecovered
recoveredatatthe
theend
end
of
ofthe
theservice
servicelife.
life.
Depreciation Expense =
The
Thenumber
numberof
of
accounting
accountingperiods
periodsover
over
which
whichthe
theasset
assetwill
willbe
be
useful
usefulto
tothe
theentity.
entity.
11
Year
Depreciable
Base
2007
2008
2009
2010
2011
$ 105,000
105,000
105,000
105,000
105,000
Years
/
/
/
/
/
5
5
5
5
5
=
=
=
=
=
Annual
Expense
Accum.
Deprec.
$ 21,000
21,000
21,000
21,000
21,000
$ 105,000
$ 21,000
42,000
63,000
84,000
105,000
12
13
14
15
Hours
Used
200
150
250
Rate per
Hour
x $105 =
x
105 =
x
105 =
Annual
Expense
$ 21,000
15,750
26,250
Accum.
Deprec.
$ 21,000
36,750
63,000
300
100
1,000
x
x
31,500
10,500
$ 105,000
94,500
105,000
105
105
=
=
16
17
Annual Expense
18
21,000
21,000
750,000
250,000
Account receivable
Revenues on assets disposal
750,000
1,000,000
750,000
22
Goodwill
Patent
Copyrights
Franchise
rights
Leasehold improvements
Deferred charges
Research and development costs
23