1.What is the required disclosures for PPE? 2.What are the required disclosures for intangible assets?
1.What is the required disclosures for PPE?
2.What are the required disclosures for intangible assets?
Homework Answers
Required disclosure for PPE
- how is it measured
- which depreciation method has been used
- the estimated useful life
- deprecation rate
- gross carrying amount with accumulated depreciation amount at the start and end of the period
- details should be provided is there are any restrictions on the title and PPE pledged as collateral
- if there are any contractual commitments to acquire PPE
Required disclosure for intangible assets
- firstly it should be mentioned whether the assets are indefinite or finite
- useful life of the asset
- amortization method uses
- gross carrying amount and accumulated amortization at the start and end of the period
- restriction on title and pledges as collateral of intangible assets
- any contractual agreements to acquire intangible assets
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1.What is the required disclosures for PPE?
2.What are the required disclosures for intangible assets?
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