Search results
Results from the WOW.Com Content Network
[3] [4] Financial statement assertions provide a framework to assess the risk of material misstatement in each significant account balance or class of transactions. [5] Both United States and International auditing standards include guidance related to financial statement assertions, although the specific assertions differ.
IAS 16 applies to property, plant and equipment (PPE). The standard itself defines PPE as "tangible items that are held for use in the production or supply of goods or services, for rental to others, or for administrative purposes; and are expected to be used during more than one [accounting] period."
Appears as a non-cash expense on the income statement. Affects the book value of assets on the balance sheet. ... but not what you pay each month to lease one. Similarly, you cannot depreciate the ...
The double-declining-balance method, or reducing balance method, [10] is used to calculate an asset's accelerated rate of depreciation against its non-depreciated balance during earlier years of assets useful life. When using the double-declining-balance method, the salvage value is not considered in determining the annual depreciation, but the ...
An asset's initial book value is its actual cash value or its acquisition cost. Cash assets are recorded or "booked" at actual cash value. Assets such as buildings, land and equipment are valued based on their acquisition cost, which includes the actual cash cost of the asset plus certain costs tied to the purchase of the asset, such as broker fees.
A company's earnings before interest, taxes, depreciation, and amortization (commonly abbreviated EBITDA, [1] pronounced / ˈ iː b ɪ t d ɑː,-b ə-, ˈ ɛ-/ [2]) is a measure of a company's profitability of the operating business only, thus before any effects of indebtedness, state-mandated payments, and costs required to maintain its asset base.
We continue to maintain a strong balance sheet with exceptional levels of capital and credit reserves as reflected by a year-end CET1 ratio of 15.7% and allowance for loan losses of 129 basis points.
is part of a single, co-ordinated plan to dispose of this separate major line of business or geographical area of operations; or is a subsidiary acquired exclusively with a view to resale. If there is any gain or loss from sale of assets it should be recognised in the statement of comprehensive income.