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Intangible Assets Plant and Intangible Assets
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Long-lived assets: No physical form (i.e. copyrights and trademarks).
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Land Plant Assets
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Fixed and tangible (i.e. building and land). Never depreciates; infinite life.
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Depreciation Natural Resources
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Oil, metal, timber, etc. Expenses as you use plant assets.
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Amortization Depletion
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Expenses as you use natural resources. Expenses as you use intangibles.
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Capitalize Cost of Plant Assets
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All of the costs to acquire the asset and get it ready for its intended use. What you do to all costs to put the asset into initial operation (i.e. delivery charge, tax, installation cost).
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Balance Sheet Expense
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What you do for maintenance on an asset once operated. The financial statement capitalized land sits on until you sell it.
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Capitalize Lump-Sum Assets
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Purchase several assets in a group. Longer to recover; sits on Balance Sheet.
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Capitalize Expense
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income statement; minimizes income taxes. Increases capacity or
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This note was uploaded on 08/30/2011 for the course ACG 2021 taught by Professor Hornik during the Fall '08 term at University of Central Florida.

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Exam3 - Flashcards2 - The flashcards are formatted for...

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