Ashford ACC306 Week 3 Discussion (dq1+dq2) Latest 2021 June
ACC306 Intermediate Accounting II
Week 3 Discussion
DQ1 Future Economic Benefits [WLOs: 3, 4, 7] [CLOs: 4, 5]
Prior to beginning work on this discussion, review the following:
Chapters 11 and 12 in the textbook
Write: Make sure your response addressing the following question is more than 200 words and includes an in-text citation or a brief quote from the reading material where appropriate. You may want to review the Citing Within Your Paper (Links to an external site.) resource from the Writing Center for proper use of citations.
What are some of the judgments used in estimating the future economic benefit (i.e., measuring the value) of intangible assets? Why would you want to estimate risk associated with cash flows?
DQ2 Intangible Assets [WLOs: 1, 2, 3, 4] [CLOs: 4, 5]
Prior to beginning work on this discussion, review the following:
Chapters 11 and 12 in the textbook
Write: Make sure your response addressing the following question is more than 200 words and includes an in-text citation or a brief quote from the reading material where appropriate. You may want to review the Citing Within Your Paper (Links to an external site.) resource from the Writing Center for proper use of citations.
An intangible asset is similar to any economic resource in that its value is equal to the sum of the present values of the projected cash flows related to use of the asset in operations. Plant assets are not revalued under U.S. GAAP, but revaluation is an option under IFRS. In your post, discuss the following:
What are some of the benefits of revaluation from the standpoint of a financial statement user?
What happens on the balance sheet when plant assets are revalued?
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