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When determining the value of a fixed Asset and a rebate was given do you reduce the value of the the fixed asset or book at a true cost?
If the company are using cost basis to value their assets then the rebate will reduce the cost.
What is impairment cost?
When assets are recorded a company's balance sheet, they are valued at historical cost (what was paid for the asset), less any accumulated depreciation or amortization if applicable. This holds true even if the market value of the asset is considerably more than what the company paid for it. However, if the market value of a company's assets drops significantly below the asset's historical cost, then it sometimes becomes necessary to revalue the asset at the lower market value. This revaluation is called impairment. When it is appropriate to impair an asset depends on the type of asset in question. The difference between the current book value of the asset, and the value of the asset after impairment, is your impairment expense (cost).
What is the cost principle?
The cost principle is an accounting guideline that states that assets should be recorded based on the actual amount paid for them, rather than their market value or potential future value. This principle helps ensure that financial statements are reliable and reflects the actual cost incurred by a company to acquire its assets.
What is the cost basis of the Johnson Controls merger?
The cost basis of the Johnson Controls merger refers to the original value of the company's assets that were used to determine the tax implications of the merger.
How to compute cost to be capitalized for acqusition of assets?
The cost to be capital its depend upon the company policy whether they should capitalze the cost or not.
What is book value?
Depends on whether you are talking about an asset or net worth (next time be more specific). Anyway, book value for an asset is the assets cost less any accumulated depreciation. Book value in regard to Net Worth is simply the company's reported Total Assets less its report Total Liabilities. Need the net worth value for the used RV
What is the difference between book value and equity in financial accounting?
Book value in financial accounting refers to the value of an asset as recorded on a company's balance sheet, which is calculated by subtracting accumulated depreciation from the original cost of the asset. Equity, on the other hand, represents the ownership interest in a company's assets after deducting its liabilities. In simple terms, book value is the value of an individual asset, while equity is the overall value of a company's ownership stake.
In accountancy what does depreciation refer to?
In accountancy depreciation refers to two different aspects: 1. the decrease in value of assets and 2. the allocation of the cost of assets to periods in which the assets are used.
What is deterioration cost?
Deteroration cost is that cost which is incurred by company on any assets due to small wear and tear in asset due to use in business.
What category does depreciation expense fall into?
Depreciation expense falls into the category of operating expenses on a company's income statement. It represents the systematic allocation of the cost of tangible fixed assets over their useful lives, reflecting the wear and tear or decline in value of these assets. This expense is important for accurately assessing a company's profitability and financial performance.
What is th principal that states assets should be carried at their cost value?
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What is the different between the cost of depreciation of a asset and its related accumulated depreciation?
Cost of depreciation assets and accumulated depreciation is same as accumulated depreciaton calculates how much depreciation is charged till date while remaining is current book value of assets.
