ACC 312 WORKSHOP 2.2 QUESTIONS FOR REVIEW
Download Q 11-1: Explain the similarities in and differences among depreciation, depletion, and amortization. Q 11-2: Depreciation is a process of cost allocation, not valuation. Explain this statement. Q 11-4: Discuss the factors that influence the estimation of service life for a depreciable asset. Q 11-6: Briefly differentiate between activity-based and time-based allocation methods. Q 11-10: Briefly explain the differences and similarities between the group approach and composite approach to depreciating aggregate assets. Q 11-12: Compare and contrast amortization of intangible assets with depreciation and depletion. Q 11-15: Explain the accounting treatment and disclosures required when a change is made in depreciation method. Q 11-17: Explain what is meant by the impairment of the value of property, plant, and equipment and intangible assets. How should these impairments be accounted for? Q 11-20: Briefly explain the difference between U.S. GAAP and IFRS in the measurement of an impairment loss for property, plant, and equipment and finite-life intangible assets