Tuesday, March 5, 2013

Valuation Principles Of Accounting

VALUATION PRINCIPLES
·a. impalpable Assets
·b. Property, Plant and Equipment
·c. Financial Assets and Investments in Associated Companies
·d. sunk Goods, Work in Progress, Raw Materials
·e. Construction Contracts
·f. Trade Accounts Receivable
·g. salable Securities
·h. Cash and Cash Equivalents
·i. Shargon Capital
·j. Capital Reserves
·k. Retained Earnings
·l. Provisions
·m. early(a) Accounting and Valuation Principles
·n. Foreign Currency
·o. Employee Benefits
·p. Income Taxes
·q. Use of Estimates
·r. Contingencies
EXPLAINATION OF ALL THE TERMS
a. Intangible Assets
Intangible assets argon accounted for at acquisition cost. After initial recognition, intangible assets atomic number 18 accounted for at cost less accumulate amortization and whatever stack away impairment losses. Intangible assets are amortized on a straight-line flat coat over the best direct of their useful lives. The amortization period and the amortization method are reviewed annually at each financial year-end.
b. Property, Plant and Equipment
Property, represent and equipment are stated at cost less accumulated depreciation and accumulated impairment losses.

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When assets are sold or retired, their cost and accumulated depreciation are eliminated from the accounts and any produce or loss resulting from their disposal is included in the income statement.
The initial cost of property, plant and equipment comprises its purchase price, including import duties and non-refundable purchase taxes and any directly attributable be of bringing the asset to its working condition and location for its intended use. Expenditures incurred after the fixed assets prepare been put into operation, such as repairs and maintenance and overhaul costs, are normally charged to income in the period in which the costs are incurred. Depreciation is calculated on a straight-line basis over the following estimated useful lives:
Buildings20-50 years
Machinery and technical equipment4-10 years
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