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1、Property,Plant,andEquipmentChapter6IntermediateAccounting12thEditionKieso,Weygandt,andWarfieldPreparedbyCobyHarmon,UniversityofCalifornia,SantaBarbaraRecordtheacquisitionofproperty,plant,andequipment.Determinethecostofassetsacquiredbytheexchangeofotherassets.Computethecostofaself-constructedasset,in
2、cludinginterestcapitalization.Recordcostssubsequenttoacquisition.Recordthedisposalofproperty,plant,andequipment.Understandthedisclosuresofproperty,plant,andequipment.Explaintheaccountingforoilandgasproperties.(appendix)LearningObjectivesIdentifythefactorsinvolvedindepreciation.Explainthealternativem
3、ethodsofcostallocation,includingactivityandtime-basedmethods.Recorddepreciation.Explaintheconceptualissuesregardingdepreciationmethods.Understandthedisclosureofdepreciation.Understandadditionaldepreciationmethods,includinggroupandcompositemethods.Computedepreciationforpartialperiods.Explaintheimpair
4、mentofnoncurrentassets.Understanddepreciationforincometaxpurposes.Explainchangesandcorrectionsofdepreciation.Understandandrecorddepletion.LearningObjectivesActivelyUsedinOperationsExpectedtoBenefitFuturePeriodsTangiblePhysical SubstanceIntangibleNoPhysical SubstanceOperationalAssetsExpectedtoBenefit
5、FuturePeriodsActivelyUsedinOperationsAssetssubjecttodepreciationBuildingsandequipmentFurnitureandfixturesNaturalresourceassets subjecttodepletionMineraldepositsandtimberLandExamplesTangiblePhysical SubstanceOperationalAssetsTheassetmustbeheldforuseandnotforinvestment.Theassetmusthaveanexpectedlifeof
6、morethanoneyear.Theassetmustbetangibleinnature.Tobeincludedintheproperty,plant,andequipmentcategory,anassetmusthavethreecharacteristics:CharacteristicsofProperty,Plant,andEquipmentActivelyUsedinOperationsExpectedtoBenefitFuturePeriodsValuerepresentedbyrights thatproducebenefitsGoodwillPatentsCopyrig
7、htsTrademarksAssetssubjecttoamortizationExamplesIntangibleNoPhysical SubstanceOperationalAssetsGeneralRuleThehistoricalcostofacquiringanassetincludesthecostsnecessarilyincurredtobringittotheconditiona
