A5.1 Twatt - Chapter5 TiffanyWatt Assignment:A5.1 March9...

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Chapter 5 Tiffany Watt Assignment: A5.1 March 9,  2011 AC 325 – E01  Using the Modified Approach or Depreciation. 5-1a. Examine several comprehensive annual financial reports (CAFRs) of large cities prepared following GASBS 34 . Create a table that lists the cities and the methods they have chosen to report their general infrastructure assets. City Sta te Reporting Methods New York NY Infrastructure elements include the roads, bridges, curbs and gutters, streets and sidewalks, park land and improvements, piers, bulkheads and tunnels. Capital assets are generally stated at historical cost, or at estimated historical cost based on appraisals or on other acceptable methods when historical cost is not available. Accumulated depreciation and amortization are reported as reductions of capital assets. Depreciation is computed using the straight-line method based upon estimated useful lives of 40 to 50 years for buildings; 5 to 35 years for equipment (including software); and 15 to 50 years for infrastructure. Capital lease assets and leasehold improvements are amortized over the term of the lease or the life of the asset, whichever is less. Los
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This note was uploaded on 09/01/2011 for the course BUSINESS 101 taught by Professor - during the Spring '11 term at Mississippi Valley State University.

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A5.1 Twatt - Chapter5 TiffanyWatt Assignment:A5.1 March9...

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