| Chapter 9: Long-Term Assets
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Chapter 9: Long-Term Assets

Learning Objectives

  1. Define long-term assets, and explain the management issues related to them.
  2. Distinguish between capital expenditures and revenue expenditures, and account for the cost of property, plant, and equipment.
  3. Compute depreciation under the straight-line, production, and declining-balance methods.
  4. Account for the disposal of depreciable assets.
  5. Identify the issues related to accounting for natural resources, and compute depletion.
  6. Identify the issues related to accounting for intangible assets, including research and development costs and goodwill.
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