23 Aug Resources Read/review the following resources for this activity:
Resources
Read/review the following resources for this activity:
- Textbook: Chapter 10, 11
- File (PDF): Presentation – Chapter 10, 11 (in the attachment)
- Minimum of 1 resource for initial post
Introduction
The measurement and reporting issues pertaining to property, plant, and equipment and intangible assets include valuation at the date of acquisition, disposition, the treatment of expenditures made over the life of these assets to maintain and improve them, the allocation of cost to reporting periods that benefit from their use, and impairment.
Initial Post Instructions
For your initial post, address the following:
- Briefly summarize the accounting treatment for intangible assets, explaining the difference between purchased and internally developed intangible assets.
- Identify and define the three characteristics of an asset that must be established to determine periodic depreciation, depletion, or amortization.
Secondary Post Instructions
Are you able to point out additional differences between purchased and internally developed intangible assets might be useful that your peers neglected to mention in their posts? Did they point out any characteristic of an asset that must be established to determine periodic depreciation, depletion, or amortization that you had not previously considered in your post? Did you gain any new learning from reading the postings of your peers?
Writing Requirements
- In addition to one initial post, respond to at least two peers.
- Initial Post Length: minimum of 250 words
- Secondary Post Length: minimum of 200 words per post
- Using APA format, incorporate appropriate in-text citation(s) referring to the academic concept with corresponding references page for the initial post.
Grading and Assessment
Meeting the minimum number of posting does not guarantee an A; you must present an in-depth discussion of high quality, integrate sources to support your assertions, and refer to peers’ comments in your secondary posts to build on concepts.
Course Learning Outcome(s): 2, 5
2. Prepare financial statement using GAAP and/or IFRS.
5. Understand and account for cash, receivables, inventories and operational assets.
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