4 PropertyAcquisition131 Fall 12

4 PropertyAcquisition131 Fall 12 - PROPERTY Acquisition...

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PROPERTY Acquisition & Cost Recovery
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TERMINOLOGY Personalty v. realty Personal use v investment/business use Tangible v Intangible
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ADJUSTED BASIS Cost or initial basis Plus capital additions & improvements Less capital cost recoveries
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DEPRECIATION Applies to tangible T/B property MACRS Recovery period Depreciation method Accounting convention Depreciation tables Direct expensing election
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Unformatted text preview: AMORTIZATION Intangilbles General rule: SL over useful life Purchased goodwill-type intangibles Organization costs Start-up costs INVENTORY What is included? How assigned to CGS? Uniform capitalization rules Inventory methods DEPLETION Natural resources Cost depletion Activity method Statutory percentage method...
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  • Fall '15
  • monroe
  • Depreciation, statutory percentage method, tangible T/B property, capital cost recoveries, Direct expensing election

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