GAAP Policies and Procedures, Second Edition

Chapter 6. Long-Lived Assets

Definitions of Terms			137
Concepts and Examples			138
	Fixed Assets—Purchases		138
	Fixed Assets—Improvements		141
	Fixed Assets—Capitalization of Interest		142
	Fixed Assets—Dispositions		143
	Fixed Assets—Inbound Donations		144
	Fixed Assets—Outbound Donations		145
	Fixed Assets—Construction in Progress		145
	Fixed Assets—Land		146
	Fixed Assets—Leasehold Improvements		146
	Fixed Assets—Depreciation Base		146
	Fixed Assets—Depreciation		147
	Fixed Assets—Straight-Line Depreciation		148
	Fixed Assets—Double-Declining Balance Depreciation		148
	Fixed Assets—Sum-of-the-Years’ Digits Depreciation		149
	Fixed Assets—Units of Production Depreciation Method		149
	Fixed Assets—Asset Impairment		150
	Intangible Assets		150
	Research and Development (R&D) Costs		152
Decision Trees			153
Policies			155
	Fixed Assets		155
	Intangible Assets		156
	Research and Development Costs		157
Procedures			157
	Fixed Assets—Calculate Depreciation		157
	Fixed Assets—Conduct Inventory of Fixed Assets		157
	Fixed Assets—Enter Fixed Asset Payments		158
	Fixed Assets—Evaluate Capital Purchase Proposals		158
	Fixed Assets—Record Gain/Loss on Sale of an Asset		159
	Fixed Assets—Test Assets for Impairment		159
	Intangible Assets—Test Assets for Impairment		160
Controls			160
	Fixed Assets		160
	Intangible Assets		162
	Research and Development Costs		163
Forms and Reports			163
	Fixed Assets		163
Footnotes			170
	Disclosure of Asset Impairments		170
	Disclosure of Goodwill		171
	Disclosure of Intangibles		171
Journal Entries			171
	Fixed Assets		171
		Depreciation	171
		Fixed asset (capitalization of interest)	172
		Fixed asset ...