Methods of Depreciation : Depreciation refers to the reduction in the monetary value of a fixed asset due to its wear and tear, or obsolescence. It is a method of distributing the cost of the fixed assets over its estimated useful life. The four methods of depreciation are: Straight-line method Sum-of- the-years’ digits method Double-declining balance method Units-of-production method Impairment of Goodwill : It is a situation that arises when the carrying value of the goodwill listed on the acquired company’s balance sheet, exceeds its fair market value. To locate : The significant accounting policy disclosure note in Company GS’s annual report.
Methods of Depreciation : Depreciation refers to the reduction in the monetary value of a fixed asset due to its wear and tear, or obsolescence. It is a method of distributing the cost of the fixed assets over its estimated useful life. The four methods of depreciation are: Straight-line method Sum-of- the-years’ digits method Double-declining balance method Units-of-production method Impairment of Goodwill : It is a situation that arises when the carrying value of the goodwill listed on the acquired company’s balance sheet, exceeds its fair market value. To locate : The significant accounting policy disclosure note in Company GS’s annual report.
Depreciation refers to the reduction in the monetary value of a fixed asset due to its wear and tear, or obsolescence. It is a method of distributing the cost of the fixed assets over its estimated useful life.
The four methods of depreciation are:
Straight-line method
Sum-of- the-years’ digits method
Double-declining balance method
Units-of-production method
Impairment of Goodwill:
It is a situation that arises when the carrying value of the goodwill listed on the acquired company’s balance sheet, exceeds its fair market value.
To locate: The significant accounting policy disclosure note in Company GS’s annual report.
Requirement – 2
To determine
To discuss: The manner in which the company value its property, plant, and equipment under IFRS and GAAP.
Requirement – 3
To determine
The company’s policies for possible reversals of impairment losses for goodwill and for other non-current assets, and also explain the manner in which these policies differ from GAAP.
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