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Unformatted text preview: ii. Calculate Loss amount and write down asset to fair value 1. Net Book value Fair Value c. Disposal of Property, Plant and Equipment i. Update depreciation expense and Accumulated Depreciation ii. Record disposal of asset 5. How Managers Choose a. Financial Reporting b. Tax Reporting i. Modified Accelerated Cost Recovery System (MACRS) 6. Natural Resources a. Acquisition b. Periodic Depletion 7. Intangible Assets a. Acquisition b. Definite Life Intangibles are subject to amortization c. Indefinite Life Intangibles: are NOT Amortized d. Typical Intangible Assets i. Goodwill ii. Trademarks iii. Copyrights iv. Patents v. Technology vi. Franchises vii. Licenses and Operating Rights 8. Property Plant and Equipment and the Financial Statements a. Balance sheet b. Income Statement c. Statement of Cash flows NOTE: Research and Development Expense is NOT an Intangible Assets under US GAAP 9. Supplement A: Change in Estimates (Page 428) 2 3...
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- Fall '08
- Intangible Assets