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- https://biz.libretexts.org/Bookshelves/Accounting/Accounting_in_the_Finance_World/10%3A_In_a_Set_of_Financial_Statements_What_Information_Is_Conveyed_about_Property_and_Equipment/10.07%3A_End-of-Chapter_ExercisesThis page discusses property, plant, and equipment (PP&E) in accounting, covering definitions, depreciation methods, and related transactions. It includes true/false questions and multiple-choice asse...This page discusses property, plant, and equipment (PP&E) in accounting, covering definitions, depreciation methods, and related transactions. It includes true/false questions and multiple-choice assessments on accumulated depreciation, book value, and impairment losses. Key scenarios involve Janus's building recording, Markov Corporation's land transactions, Chang and Chang Inc.'s machine depreciation, Partyplace's vehicle purchases, and Webworks's comprehensive financial tasks.
- https://biz.libretexts.org/Bookshelves/Accounting/Accounting_in_the_Finance_World/10%3A_In_a_Set_of_Financial_Statements_What_Information_Is_Conveyed_about_Property_and_EquipmentThis page discusses key accounting topics for property and equipment reporting, such as historical costs, depreciation expenses, and methods for handling partial years. It addresses asset exchanges, a...This page discusses key accounting topics for property and equipment reporting, such as historical costs, depreciation expenses, and methods for handling partial years. It addresses asset exchanges, adjustments for older assets, land improvements, and property value impairments, along with end-of-chapter exercises for practice.
- https://biz.libretexts.org/Bookshelves/Accounting/Accounting_in_the_Finance_World/zz%3A_Back_Matter/20%3A_GlossaryThis page offers a comprehensive glossary of accounting terms, providing definitions for key concepts such as depreciation, inventory, dividends, and financial reporting standards like GAAP. It covers...This page offers a comprehensive glossary of accounting terms, providing definitions for key concepts such as depreciation, inventory, dividends, and financial reporting standards like GAAP. It covers a wide range of topics including executed contracts, financial ratios, and corporate structures, emphasizing the importance of accurate financial management and reporting practices.
- https://biz.libretexts.org/Bookshelves/Accounting/Accounting_in_the_Finance_World/10%3A_In_a_Set_of_Financial_Statements_What_Information_Is_Conveyed_about_Property_and_Equipment/10.05%3A_Recording_Asset_Exchanges_and_Expenditures_That_Affect_Older_AssetsThis page outlines key accounting practices regarding asset exchanges, emphasizing recording at fair value and proper cost allocation. It details that improvements to assets that enhance capacity or e...This page outlines key accounting practices regarding asset exchanges, emphasizing recording at fair value and proper cost allocation. It details that improvements to assets that enhance capacity or efficiency lead to capitalization, affecting depreciation. Conversely, costs that do not physically improve an asset but extend its life adjust accumulated depreciation.
- https://biz.libretexts.org/Bookshelves/Accounting/Accounting_in_the_Finance_World/12%3A_In_a_Set_of_Financial_Statements_What_Information_Is_Conveyed_about_Equity_Investments/12.04%3A_The_Reporting_of_Consolidated_Financial_StatementsThis page explains the consolidation of financial statements following a company's acquisition of over 50% of another entity. It details the need to combine revenues, expenses, assets, and liabilities...This page explains the consolidation of financial statements following a company's acquisition of over 50% of another entity. It details the need to combine revenues, expenses, assets, and liabilities while excluding pre-acquisition figures, with assets valued at fair market rates and excess costs recognized as goodwill.
- https://biz.libretexts.org/Bookshelves/Accounting/Accounting_in_the_Finance_World/12%3A_In_a_Set_of_Financial_Statements_What_Information_Is_Conveyed_about_Equity_Investments/12.02%3A_Accounting_for_Investments_in_Securities_That_Are_Available_for_SaleThis page discusses how students should recognize available-for-sale investments, record dividend receipts, and manage fair value changes. Long-term holdings affect financial classification, with unre...This page discusses how students should recognize available-for-sale investments, record dividend receipts, and manage fair value changes. Long-term holdings affect financial classification, with unrealized gains or losses recorded in stockholders' equity, while dividends boost net income. Realized gains upon sale are noted in net income.
- https://biz.libretexts.org/Bookshelves/Accounting/Accounting_in_the_Finance_World/10%3A_In_a_Set_of_Financial_Statements_What_Information_Is_Conveyed_about_Property_and_Equipment/10.01%3A_The_Reporting_of_Property_and_EquipmentThis page discusses the accounting treatment of tangible assets, emphasizing that they are recorded at historical cost and depreciated over time. Wal-Mart's $93 billion in property and equipment exemp...This page discusses the accounting treatment of tangible assets, emphasizing that they are recorded at historical cost and depreciated over time. Wal-Mart's $93 billion in property and equipment exemplifies significant financial investment. Fair value reporting remains contentious due to concerns over subjectivity and reliability, with historical cost favored for objectivity.
- https://biz.libretexts.org/Bookshelves/Accounting/Accounting_in_the_Finance_World/11%3A_In_a_Set_of_Financial_Statements_What_Information_Is_Conveyed_about_Intangible_Assets/11.03%3A_Recognizing_Intangible_Assets_Owned_by_a_SubsidiaryThis page discusses the recognition and reporting of intangible assets, particularly goodwill, by parent companies acquiring subsidiaries under U.S. GAAP. It explains that subsidiary intangibles can b...This page discusses the recognition and reporting of intangible assets, particularly goodwill, by parent companies acquiring subsidiaries under U.S. GAAP. It explains that subsidiary intangibles can be recognized if they are identifiable and meet certain criteria. Goodwill reflects excess payments beyond identifiable assets and is not amortized, but it must undergo annual impairment testing.
- https://biz.libretexts.org/Bookshelves/Accounting/Accounting_in_the_Finance_World/12%3A_In_a_Set_of_Financial_Statements_What_Information_Is_Conveyed_about_Equity_Investments/12.01%3A_Accounting_for_Investments_in_Trading_SecuritiesThis page outlines key learning objectives for students about investment reporting and accounting for changes in value of trading securities. It explains why companies buy shares, using Valente Corpor...This page outlines key learning objectives for students about investment reporting and accounting for changes in value of trading securities. It explains why companies buy shares, using Valente Corporation's acquisition of Bayless stock as an example. It emphasizes fair value accounting under U.S. GAAP and the impact of unrealized gains or losses on income statements.
