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IAS 16 (of the IFRS) provides for two acceptable alternative approaches to accounting for fixed assets. The first of these is the cost model, under which...
Companies acquire their fixed asset in some different ways. Rather than simply purchase their fixed asset, some companies may choose to lease theirs. You record purchased...
There is always a chance, in any companies, that physical fixed assets is unmatched with its accounting book. And this, by the accounting principle and rules,...
Reconciling physical fixed assets—into existing property records, is often the case of a company that has just established new policies for minimum capitalization going forward. In...
Depreciation is designed to spread an asset’s cost over its entire useful service life. Its service life is the period over which it is worn out...
Long-lived assets are those expected to provide an economic benefit to the reporting entity for a number of future periods. Both IFRS and GAAP regarding long-lived...