Capital Assets

Capital Assets (tangible and Intangible)

Tangible:  1. Property Plant & Equip 2.Natural Resources

Cost Principle: What is included in the cost? See 2.5.1 – 2.5.4

What is Amortization? Based on: Cost,Useful Life,Residual Value
1.Straight Line 2.Declining Balance 3. Unit of activity