K12EPPTCH11 - Chapter 11-1 Depreciation, Impairments, and...

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Unformatted text preview: Chapter 11-1 Depreciation, Impairments, and Depreciation, Impairments, and Depletion Depletion Chapter Chapter 11 11 Chapter 11-2 1. 1. Explain the concept of depreciation. Explain the concept of depreciation. 2. 2. Identify the factors involved in the depreciation process. Identify the factors involved in the depreciation process. 3. 3. Compare activity, straight-line, and decreasing-charge methods of depreciation. Compare activity, straight-line, and decreasing-charge methods of depreciation. 4. 4. Explain special depreciation methods. Explain special depreciation methods. 5. 5. Explain the accounting issues related to asset impairment. Explain the accounting issues related to asset impairment. 6. 6. Explain the accounting procedures for depletion of natural resources. Explain the accounting procedures for depletion of natural resources. 7. 7. Explain how to report and analyze property, plant, equipment, and natural Explain how to report and analyze property, plant, equipment, and natural resources. resources. Learning Objectives Learning Objectives Chapter 11-3 Depreciation Depreciation Factors involved Factors involved Methods of Methods of depreciation depreciation Special methods Special methods Special issues Special issues Impairments Impairments Depletion Depletion Presentation and Presentation and Analysis Analysis Recognizing Recognizing impairments impairments Measuring Measuring Impairments Impairments Restoration of Restoration of loss loss Assets to be Assets to be disposed of disposed of Presentation Presentation Analysis Analysis Establishing a Establishing a base base Write-off of Write-off of resource cost resource cost Continuing Continuing controversy controversy Special problems Special problems Depreciation, Impairments, and Depletion Depreciation, Impairments, and Depletion Chapter 11-4 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 Depreciation - Method of Cost Allocation LO 1 Explain the concept of depreciation. LO 1 Explain the concept of depreciation. Chapter 11-5 Depreciation - Method of Cost Allocation Depreciation - Method of Cost Allocation LO 2 Identify the factors involved in the depreciation process. LO 2 Identify the factors involved in the depreciation process. Three basic questions : Factors Involved in the Depreciation Process (1) What depreciable base is to be used? (2) What is the assets useful life?...
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K12EPPTCH11 - Chapter 11-1 Depreciation, Impairments, and...

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