11 Sep Discussion Topic 3 Financial Reporting
Respond to the following in a minimum of 250 words:
This week focuses on short-term and long-term assets and cost determination for preparing financial statements, and financial reporting for leases.
Discuss
A fixed asset typically goes through the life cycle of acquisition, usage, and disposal. For each of these stages of the life cycle, discuss one key accounting issue related to a fixed asset the company must address.
Depreciation methods
http://www.youtube.com/watch?v=vnWtAchWP1c
http://www.youtube.com/watch?v=DA_qxxFhrac
http://www.youtube.com/watch?v=paPKtxkUkNE
Depletion of natural resources
Amortization of intangible assets
https://www.youtube.com/watch?v=jAIFQMwe_u8
Asset impairment
http://www.youtube.com/watch?v=KIWRCornNDs
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