Essay Available:
Pages:
1 page/β275 words
Sources:
4 Sources
Style:
APA
Subject:
Accounting, Finance, SPSS
Type:
Case Study
Language:
English (U.S.)
Document:
MS Word
Date:
Total cost:
$ 4.68
Topic:
Pandemic Cubicles and Pandemic Patios
Case Study Instructions:
This is part of a group assignment. I chose this case. Discuss its accounting principle.
One of the team members has finished writing. Seeing that she has used some IAS and IFRS rules, I found two websites for you to check it out.
https://www(dot)ifrs(dot)org/issued-standards/list-of-standards/
https://www(dot)iasplus(dot)com/en/standards/ias
I will also send you all the course slides to see if there are any available.
The fire accident is the case of the team members after finishing writing
Case Study Sample Content Preview:
Pandemic Cubicles and Pandemic Patios
The total cost of installing the cubicles in various restaurant locations was $225,000. The cost of patios was $60,000. They borrowed $ 100,000 from an uncle to finance part of the cubicles and patios. The cubicles are part of building improvement to the existing restaurants, and these costs are capitalized and recorded on the balance sheet.
IAS 16 Property, Plant, and Equipment (PPE) highlight that an item corresponding to property, plant, and equipment ought to be recognized as an asset and satisfy the criteria for defining and recognizing assets in the preparation and presentation of financial statements. The cost of cubicles should be capitalized and will not only be recorded in the balance sheet, the cost of depreciation is recorded in the income statement, but the capitalized costs are expensed over a period of time and not 2021 when there are first incurred. All long lived and tang...
The total cost of installing the cubicles in various restaurant locations was $225,000. The cost of patios was $60,000. They borrowed $ 100,000 from an uncle to finance part of the cubicles and patios. The cubicles are part of building improvement to the existing restaurants, and these costs are capitalized and recorded on the balance sheet.
IAS 16 Property, Plant, and Equipment (PPE) highlight that an item corresponding to property, plant, and equipment ought to be recognized as an asset and satisfy the criteria for defining and recognizing assets in the preparation and presentation of financial statements. The cost of cubicles should be capitalized and will not only be recorded in the balance sheet, the cost of depreciation is recorded in the income statement, but the capitalized costs are expensed over a period of time and not 2021 when there are first incurred. All long lived and tang...
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