How can we determine the Acquisition of Fixed Assets?

Q: What is the ability to revalue fixed assets under IFRS provides flexibility in reflecting the true…

A: Step 1: Understanding IFRS Revaluation ModelUnder the International Financial Reporting Standards…

Q: What is the classification of long term assets? Explain them.

A: Long-term assets: Long – term assets are those assets that are generally held by a company for more…

Q: Explain the historical cost concept as it applies to long-term operational assets. Why is the book…

A: The cost of a fixed asset include every expenses incurred in bringing the asset into present…

Q: Explain relaxed policy (current assets)

A: Relaxed Policy is just something contrary to a restricted approach.

Q: how to get amortization?

A: Amortisation is an accounting technique used to lower down value of loan amount or intangible assets…

Q: what are some pros and cons of holding high level of current assets in relation to sale?

A:

Q: Discuss and explain the tension between “Asset Transformation” and “Asset Conversion”

A: There exists a subtle yet systematic tension between asset transformation and asset conversion. Both…

Q: What costs should be included when measuring the total cost to acquire a long-term asset?

A: Long-term assets: The assets which are used to generate revenue for the business operations for a…

Q: Should the engineers be able to assess the reality of depreciating fixed assets?

A: A company should assess the position of its fixed asset and check for its impairment if condition…

Q: Describe  accounting for depreciation of fixed assets?

A: The depreciation is the reduction in the value of fixed assets with the usage and passage of time.

Q: How can we determine the amount of new fixed assets?

A: Fixed asset is a long term asset from which economic inflows are expected to generate to company for…

Q: Define restricted policy (current assets)

A: The assets which are liquidated and converted in cash within a time period of one year and less than…

Q: What are the requirements of depreciating an asset?

A: Depreciation is a non-cash expense which is charged against the use of the fixed assets of the…

Q: What is an intangible asset? Should all intangible assets be subject to amortization? Explain why or…

A: An intangible asset is one that lacks a physical form. Intangible assets include goodwill, brand…

Q: What document shows when fixed assets are fully depreciated?

A: Depreciation: Depreciation means decrease in the value of tangible asset. Depreciation is a…