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| Learning Objectives are classified as conceptual, analytical, or procedural.
After completing this chapter you should be able to: Conceptual C1 Explain the cost principle for computing the cost of property, plant and equipment. C2 Explain depreciation for partial years and changes in estimates. C3 Distinguish between revenue and capital expenditures, and account for them. Analytical A1 Compute total asset turnover and apply it to analyze a company's use of assets. Procedural P1 Compute and record depreciation using the straight-line, units-ofproduction, and declining-balance methods. P2 Account for asset disposal through discarding or selling an asset. P3 Account for natural resource assets and their depletion. P4 Account for intangible assets. P5 Appendix 10A—Account for asset exchanges. |