reporting and interpreting property plant and equipment natural resources and intangibles

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1、ConfirmingPagesLEARNINGOBJECTIVESAfterstudyingthischapter,youshouldbeableto:1.Define,classify,andexplainthenatureoflong-livedproductiveassetsandinterpretthefixedassetturnoverratio.p.3892.Applythecostprincipletomeasuretheacquisitionandmaintenanceofproperty,plant,andequipment.p.391Le

2、cturePresentationLP-8www.mhhe.com/libby7e3.Applyvariouscostallocationmethodsasassetsareheldandusedovertime.p.3964.Explaintheeffectofassetimpairmentonthefinancialstatements.p.4065.Analyzethedisposalofproperty,plant,andequipment.p.4086.Applymeasurementandreportingconceptsfornaturalre

3、sourcesandintangibleassets.p.4097.Explainhowtheacquisition,use,anddisposaloflong-livedassetsimpactcashflows.p.414lib11021_ch08_386-453.indd38624/06/102:43PMConfirmingPagesCHAPTEREIGHTREPORTINGANDINTERPRETINGPROPERTY,PLANT,ANDEQUIPMENT;NATURALRESOURCES;ANDINTANGIBLESsofDecember31,20

4、09,SouthwestAirlinesoperated537Boeing737aircraft,providingserviceto68domesticcitiesin32states,andwasthelargestU.S.aircarrierinnumberAoforiginatingpassengersboardedandnumberofscheduleddomesticdepartures.South-westisacapital-intensivecompanywithnearly$11billioninproperty,plant,andequ

5、ipmentreportedonitsbalancesheet.Infis-calyear2009,Southwestspent$585milliononaircraftandotherflightequipmentaswellasgroundequip-FOCUSCOMPANY:ment.Sincethedemandforairtravelisseasonal,withpeakdemandoccur-SouthwestAirlinesringduringthesummermonths,plan-ningforoptimalproductivecapacit

6、yMANAGINGPRODUCTIVECAPACITYintheairlineindustryisverydifficult.FORTHELOW-FARELEADERSouthwest’smanagersmustdeterminewww.southwest.comhowmanyaircraftareneededinwhichcitiesatwhatpointsintimetofillallseatsdemanded.Otherwise,thecom-panylosesrevenue(notenoughseats)orincurshighercosts(too

7、manyseats).Demandisalsohighlysensitivetogeneraleconomicconditionsandothereventsbeyondthecontrolofthecompany.EventhebestcorporateplannerscouldnothavepredictedtheSeptember11,2001,terroristattacksagainsttheUnitedStatesthatrockedtheairlineindustry.ThewarinIraqledtofurtherdeclinesinthed

8、emandforairtravel.Inrespon