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7 ASSETS PowerPoint Presentation
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7 ASSETS

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  1. ASSETS

  2. An ASSET is a resource controlled by the enterprise as a result of past events and from which future economic benefits are expected to flow to the enterprise.

  3. Tangible Assets Intangible Assets ASSETS:

  4. Current assets Fixed assets ASSETS:

  5. Current assets: • Cash and cash equivalents • Short-term investments • Receivables • Inventory • Prepaid expenses

  6. The RESIDUAL VALUE of an asset is the estimated amount that the entity could now get on disposal or disposition of assets by another means, after deducting the estimated costs of such sale or disposition, if the assets had already reached the age and other conditions expected at the end of its useful life.

  7. Useful life is the period during which it is expected to use the depreciable assets by the entity. • Fair market value is the price that would be agreed to in an open and unrestricted market between knowledgeable and willing parties dealing at arm’s length who are fully informed and are not under any compulsion to transact. • Gross book value of a fixed asset is its historical cost or other amount substituted for historical cost in the books of account or financial statements. • Net book value of an asset is basically the difference between the historical cost of that asset and it associated depreciation.

  8. The cost of the elements of tangible fixed assets includes: • its purchase price, including import tariffs and indirect taxes; (b) the delivery costs ; (c) the costs of installation and assembly.