Explain the concept of VALUE IN USE. Why can it be a basis for recoverable amount of an item of Property, plant and equipment?

Q: When an item of property, plant, and equipment is disposed of, how is gain or loss on disposal…

A: When an item of property, plant and equipment is disposed of, then gain or loss is determined by…

Q: What is an intangible asset? Provide some examples.

A: Intangible assets: These are the long-term assets which are not physical in nature, but possess…

Q: Required: a) What is the total cost that should recorded as research and development cost? b) What…

A: Intangible assets are those assets which can neither be touched nor be seen. These include patent…

Q: Analyze how different types intangible assets are accounted for.

A: An asset is intangible when it cannot be seen, which means the asset that does not have any physical…

Q: Identify the various costs included in the initial cost of property, plant, and equipment, natural…

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Q: What information is found on the depreciation schedule? How can this information be verified?

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Q: How can be Preservation and Maintenance of the Property can be done?

A: Preservation and Maintenance of Property can be done as follows: The borrower of the property…

Q: Which one of the following is an intangible asset?

A: We know that as per IAS 38 vis a vis IFRS 38 an intangible asset is an identifiable non monetary…

Q: Describe to Stan what it means to capitalize an expenditure. What is the general rulefor determining…

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Q: describe the costs associated with tangible and intangible assets, and the methods of expensing…

A: Tangible Assets: Intangible assets are tangible assets that can be touched or felt. They include…

Q: What are factors to be considered in estimating the usefullife of an intangible asset?

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Q: What Are Intangible Assets?

A: Intangible assets form a part of the non-current assets of the company.

Q: what are the different types of intangible assets and give examples of each

A: Intangible assets: These are the long-term assets that are not physical in nature, but possess…

Q: What general procedures are applied in accounting for the acquisition and potential cost allocation…

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Q: what is the definition of Intangible Assets and Goodwill and what are some of the types of…

A: The assets can be classified as fixed assets, current assets and intangible assets.

Q: Which of the following terms describes expenditures made to repurpose an asset?

A: The asset is the future benefit of the company that would have to be sacrificed to pay off the…

Q: Determine the initial cost of property, plant, and equipment and intangible assets acquired in…

A: Property, Plant, and Equipment or PP&E is a classification shown on a balance sheet. It normally…

Q: what is the attributes of determining the far value of intangible assets.

A: A non-physical asset is referred to as an intangible asset. Intangible assets contain goodwill, name…

Q: Why is there a need to properly classify a property whether it is an investment or a property, plant…

A: Before making application treatment on property needs to be classification  It will makes proper…

Q: Describe the derecognition of property, plant, and equipment and intangible assets

A: An asset is something that gives benefits in the future to its owner. There are generally two types…

Q: How do you identify intangible assets such as usufruct in modern transactions? Justify with examples

A: In a usufruct, the property rights of usus and fructus are merged. Usus refers to the right to use…

Q: What are some examples of tangible and intangible assets?

A: Introduction:- Assets are mainly categories into two types based on the existence. these are as…

Q: How can we determine the service life of an asset?

A: A tangible asset is a substantial resource. Tangible resources incorporate fixed resources including…

Q: What is a portion of plant asset cost allocated as expense for the period? What is the difference…

A: Carrying Amount: The carrying amount is the purchase price less impairment and depreciation and is…

Q: Discuss the characteristics, valuation, and amortization of intangible assets.

A: Intangible assets have two main characteristics: (1) Lack physical existence, and (2) Non-…

Q: Explain the appropriate accounting treatment required when a change is made in the service life or…

A: Depreciation: Depreciation refers to the reduction in the monetary value of a fixed asset due to…

Q: Explain the depreciation process and benefits of property, plant and equipment?

A: Depreciation on Property, Plant, and Equipment: It is considered as the charge against the profit…

Q: Explain what is meant by the impairment of the value of property, plant, and equipment and…

A: Property, Plant, and Equipment:  Property, Plant, and Equipment refers to the fixed assets, having a…

Q: Explain the preferred use of historical cost as the basis for recording property and equipment and…

A: Historic cost is a method of recording the value of assets in the financial statement. According to…

Q: Explain the process of ‘impairment of an asset’ and its definition? Explain how to account for an…

A: Impairment of assets means reducing the cost of assets when carrying amount is more than value in…

Q: The cost of intangible asset acquired

A: As per IAS 38, Intangible assets are those assets which states the requirements of accounting for…

Q: treatment of depreciation

A: Depreciation is the expense charged to account the losses arising due to wear and tear of fixed…

Q: How do you identify intangible assets such as usufruct in modern transactions

A: Goodwill, brand awareness, and proprietary information like as patents, trademarks, and copyrights…

Q: Give reasons why depreciation methods are useful?

A: Depreciation: It is the reduction in the value of an asset due to factors like normal usage and…

Q: Describe the Costs of Defending Intangible Rights.

A: Introduction Intangible assets are the assets that cannot be seen physically, but its' presence in…

Q: How is gain or loss determined when disposing of plant assets? What situation constitutes a gain?…

A: Disposal of plant assets, may result in gain or loss.

Q: hat are the reason for seeking an acquisition of intangible assets?

A: Intangible assets: Intangible assets are non-physical assets, can't be seen but can be identified…

Q: What are the characteristics of an intangible asset?

A: Asset refers to any economic value resource for an individual, corporation or a country. It…

Q: What are the intangible assets? Give some examples?

A: Classification of Assets Assets can be classified in to three categories which are Fixed Assets,…

Q: Property plant and equipment are considered what type of asset?

A: basically classification of asset is done based on the nature of the asset .there are two types of…

Q: What is the basic principle for valuing property, plant, and equipment and intangible assets…

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