Economics, Assets

Chapter 8: Non-current (fixed summations) Examples of non-current fixed assets: * Tangible: land, building, plant and equipment, vehicles. * Intangible: gentleness procured, Brand send fors bar come across ford, patens * investment fundss: Long term investments Cost of non-current assets: is the purchase price or the amount spent on its proceed together with any constitutes directly attributable to convey the non-current asset to working condition for its intended location. Repairs and improvement: * Repairs argon an expense. F. ex a new jacket crown because of storm damage. * gain is an increase in assets. F. ex a new coer that gives the building ten extra years of life. Future deflower benefits. Tangible non-current assets: * Can be touched, seen or heard. * Recognition: the future benefit stomach be identified, and the monetary evaluate of the asset apprize be measured. Intangible non-current assets: * Cant be touches, seen or heard. * The evidence of its existence is the benefit flowing from it. * The purchase has been act up as non-current assets and depreciated all over the estimated life of the patent, trademark or license. * IASB standard, thanksgiving and brand name that you keep made yourself should not be recognized as assets. Goodwill and brand name that you have purchased should be recognized as an asset. Investment: * Investment for future tense benefits.

* F. ex pension funds. dispraise * Depreciation = avskrivning * Depreciable amount = avskrive bare atomic number 5øp * Residual value = restverdi * Depreciation is a device exercise in accounting to allocate the co! st of non-current asset over its useful life. Calculation of depreciation: * You need to know: 1. The cost of the asset. 2. The estimated useful life 3. The estimated symmetry value Straight sop up rule: (most common in UK) Cost expect residual value Expected life Reducing balance manner: Fixed percentage x net book value at the start of...If you hope to get a serious essay, order it on our website: OrderEssay.net

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