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Which Accounting standard governs treatment of property and equipment?
IAS - 16 Property, Plant and Equipment deals with matters governing of property and equipment.
If you can use VAT paid on equipment as a credit against VAT output do you depreciate it?
According to IFRS IAS #16:"The cost of an item of property, plant and equipment comprises:(a) its purchase price, including import duties and non-refundable purchasetaxes, after deducting trade discounts and rebates."If you are using the VAT input paid on equipment as a credit against the future VAT output received on sales, you would book the equipment cost net of VAT.
Purchases of plant and equipment can be determined from the?
Purchases of plant and equipment can be determined from the cash flow statement, specifically the investing activities section, which details cash outflows for property, plant, and equipment (PP&E). Additionally, analyzing the balance sheet can provide insights into changes in PP&E by comparing the current and previous periods. The notes to the financial statements often include further disclosures related to capital expenditures, offering a clearer picture of investment in plant and equipment.
Is depreciation of factory plant and equipment a factory overhead cost?
YES
When is land consider a current asset?
Never, land is a fixed asset that is listed under Property, Plant and Equipment or PP&E, but is never listed as a current asset.NO, land is not considered a current asset as typically it is not easily liquidated into cash. Land goes under the PP&E section of the balance sheet, hence the term Property, Plant, & Equipment and is classified as a long-term asset.
Where can one purchase surplus equipment?
One can purchase surplus equipment from many different stores. If you're looking for plant surplus equipment then you can use stores such as Lowe's Or Home Depot. You can also get surplus equipment from many military stores.
How do you find and interpret the the accounting ratio for plant and equipment turnover?
Plant and equipment turnover ratio gives an indication of managment's ability to generate sales based upon investments in plants and equipment. Plant and Equipment Turnover = Sales / Average Total Plant and Equipment Inventories
A firm's purchase of plant and equipment would be considered a?
capital expenditure, as it involves a long-term investment in physical assets that will be used to generate revenue over multiple accounting periods. This type of expenditure is typically recorded as an asset on the balance sheet and depreciated over its useful life.
What is plant asset Discuss the three types of plant asset?
Property, plant, and equipment
Types of consruction plant and equipment?
what???
Is shrubs a plant?
Yes, a shrub is considered to be a plant. Anything that has stems is considered to be a plant.
What is the application of the matching principleto depreciation of plant and equipment can best be described as?
What is The application of the matching principle to depreciation of plant and equipment can best be described as?
What equipment is needed for tulips?
the equipment needed is soil, a shovel, and a warm place to plant it:]
Where can one purchase a flowering plant named cumin?
You can purchase a Cumin plant on Amazon if you cannot find them at a local nursery. You can also grow your own Cumin plant with seeds that you can purchase at the site Seed Savers.
Goodwill would appear in which balance sheet section AInvestments BProperty plant and equipment CCurrent assets DIntangible assets?
depends on what is happening with goodwill - purchase? sale? labor? etc. etc.
Is It Better To Buy Or Lease The Plant And Equipment?
At the positive note equipment leasing doesn’t tie up your money. The drawback of leasing – there is no resale or salvage value because you don’t possess the equipment or plant.
Which plant is not considered poisonous when touched or ingested?
The plant that is not considered poisonous when touched or ingested is the aloe vera plant.
