Assets 资产 and liabilities 负债概要1.pptx

MANG 6269Fundamentals of Financial Accounting;Today’s lecture:;NON-CURRENT (OR FIXED) ASSETS AND DEPRECIATION;Definitions - Asset;Non-current asset;Examples;Cost of property, plant and equipment includes:;Examples of attributable cost;Repairs and improvements;Depreciation;Effect on Accounting Equation;Depreciation:;;Methods of Depreciation include:;Example ;Example;Land and Buildings at Valuation;Impairment;Inventories (Stocks and work-in –progress);What are inventories? Examples from different types of business:;WHAT ARE INVENTORIES?;Common categories:;Accounting for inventories;For a retailer or wholesaler:;Practicalities;Example;Valuation of inventories;Objectives of inventories valuation at full cost;Cost:;Cost of purchase;Cost Flow Models;Examples - Widgets;Cost of conversion;Example 1: Toy Manufacturer making Teddy Bears;;Valuation of Partly Made Bear, at cost:;Net Realisable Value:;Net Realisable Value:;Example – retailer;Net Realisable Value:;Example 3Valuation of Partly Made Bear:;;43;44;Doubtful Debts – impairment of receivables;;Doubtful Debts – impairment of receivables;Example;Weir Group plc- accounting policy;Longer term receivables;Receivables and Prudence;Example of a prepayment;Example of an accrual;Estimates and judgements;References :