Question and answer
Question not found
Ask a question
Not a good answer? Get an answer now. (Free)
New answers
Rating

There are no new answers.

Comments

There are no comments.

Add an answer or comment
Log in or sign up first.
Questions asked by the same visitor
What is included in the cost basis of a long-lived asset? Explain for at least two types of such assets
Weegy: Both accounting models have similar recognition criteria, requiring that costs be included in the cost of the asset if future economic bene?ts are probable and can be reliably measured. [ Neither model allows the capitalization of start-up costs, general administrative and overhead costs or regular maintenance. However, both US GAAP and IFRS require that the costs of dismantling an asset and restoring its site (that is, the costs of asset retirement under FAS 143Accounting for Asset Retirement Obligations or IAS 37) be included in the cost of the asset. Both models require a provision for asset retirement costs to be recorded when there is a legal obligation, although IFRS requires provisions in other circumstances as well. Read more: ] User: What sources are reliably used to estimate an asset's useful life? Weegy: Please specify in which context you associate "asset" with. Business? Philosophy? (More)
Question
Expert Answered
Asked 11/15/2011 11:23:07 AM
0 Answers/Comments
Has the concept of asset impairment changed accounting for long-lived assets under the historical cost model? If so, how?
Weegy: Both accounting models have similar recognition criteria, requiring that costs be included in the cost of the asset if future economic bene?ts are probable and can be reliably measured. [ [ Neither model allows the capitalization of start-up costs, general administrative and overhead costs or regular maintenance. However, both US GAAP and IFRS require that the costs of dismantling an asset and restoring its site (that is, the costs of asset retirement under FAS 143Accounting for Asset Retirement Obligations or IAS 37) be included in the cost of the asset. Both models require a provision for asset retirement costs to be recorded when there is a legal obligation, although IFRS requires provisions in other circumstances as well. Read more: ] ] (More)
Question
Expert Answered
Asked 11/15/2011 2:44:39 PM
0 Answers/Comments
Has the concept of asset impairment changed accounting for long-lived assets under the historical cost model? If so, how?
Weegy: no the concept of asset has not changed. (More)
Question
Expert Answered
Asked 11/15/2011 2:45:41 PM
0 Answers/Comments
23,938,479 questions answered
Popular Conversations
Select the verbal; indicate whether it is a participle, gerund, or ...
Weegy: The verbal is "to be done". It is an infinitive and functions as the object of the sentnece. User: Identify ...
2/11/2016 12:57:37 AM| 2 Answers
Austrian-Serbian hostilities initiated World War I. True False NEXT
Weegy: Austrian-Serbian hostilities initiated World War I. False. User: The American reinforcements prevented the ...
2/11/2016 7:33:00 AM| 2 Answers
(x + 5)(x + 2)?
2/11/2016 8:11:42 AM| 2 Answers
Match the world leader with his nation. 1. Fidel Castro Soviet ...
Weegy: What is your question about this wars? User: The main building of the United Nations is located in ...
2/11/2016 12:55:05 PM| 2 Answers
Weegy Stuff
S
Points 331 [Total 728] Ratings 0 Comments 331 Invitations 0 Offline
S
P
P
L
Points 240 [Total 1047] Ratings 0 Comments 240 Invitations 0 Offline
S
1
L
L
P
R
P
L
P
Points 122 [Total 11295] Ratings 0 Comments 122 Invitations 0 Offline
S
L
P
Points 47 [Total 2115] Ratings 0 Comments 47 Invitations 0 Offline
S
Points 12 [Total 23] Ratings 1 Comments 2 Invitations 0 Offline
S
Points 4 [Total 904] Ratings 0 Comments 4 Invitations 0 Offline
S
Points 2 [Total 5] Ratings 0 Comments 2 Invitations 0 Offline
S
Points 2 [Total 2] Ratings 0 Comments 2 Invitations 0 Offline
S
Points 1 [Total 2] Ratings 0 Comments 1 Invitations 0 Offline
S
R
Points 1 [Total 196] Ratings 0 Comments 1 Invitations 0 Offline
* Excludes moderators and previous
winners (Include)