Accounting for Long Term Assets - created from Mind Map

Page 1

Plant Assets

Natural Resources

Intangibles

Cost Determination

Depreciation

Additional Expenditures

Disposal of Plant Assets

Machinery and Equipment

Buildings

Land Improvements

Land

Lump-Sum Purchase

Cost

Salvage Value

Useful Life

Straight Line method

Units of production method

Declining Balance method

Partial year Depreciation

Change in Estimates

Ordinary Repairs

Betterments and Extraordinary Repairs

Discarding Plant Assets

Selling Plant Assets

Cost Determination

Plant Assets tied into Extracting

Depletion

Natural resources

Cost Determination and Amortization

Types of Intangables

Indefinite Life

Patent

Copyright

Franchises & Liscenses

Trademark

Goodwill

Lease