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Fixed Assets (What to know) (Asset Expensing (aka Depreciation) (Depr …
Fixed
Assets
(What to know)
Types of LT assets
Tangible
Real Property
Natural resource
Land
no depreciation
land improvements
depreciable
Building
Personal Property
All Equipment
PPE
Intangible
How to record LT Assets
Disposal
Proceeds - Net book Value = gain or loss
Acquire
add ins to acquired cost
purchased
constructed
Asset Expensing
(aka Depreciation)
straight-line for other assets
natural resources
Deplete = cost / units
Amortize = cost/ time
Depr
Methods
straight line
cost -sal value / life
Units of production
cost - sal val / units
double declining
Depreciation Expense
vs Accumulated Depreciation
Concept
Ratios
ROA
Asset turnover