Discussion Topic 3 Financial Reporting

This week focuses on short-term and long-term assets and cost determination for preparing financial statements, and financial reporting for leases. 

Discuss

A fixed asset typically goes through the life cycle of acquisition, usage, and disposal. For each of these stages of the life cycle, discuss one key accounting issue related to a fixed asset the company must address.

Depreciation methods

http://www.youtube.com/watch?v=vnWtAchWP1c

http://www.youtube.com/watch?v=DA_qxxFhrac

http://www.youtube.com/watch?v=paPKtxkUkNE

Depletion of natural resources