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With appropriate referencing and elaborate explanation, write a minimum of 1,200+ words to
explain ''Long Term Asset under the following sub-heading:
Identify and distinguish between various types of long-term assets.
Describe the valuation methods for property, plant, and equipment, including identifying costs
that are usually capitalized.
Explain why property, plant, and equipment assets are depreciated.
Significance of Long-term Asset
Cost Model
Revaluation Model
Depreciation, Depreciation method
Straight-line method
Unit of Production method
Diminishing Balance method
Accelerated depreciation method
Double diminishing Balance
Reading Depreciation Expense
Corporate Income Tax
Impairment
Intangible Asset types
Goodwill,
Amortization
With appropriate referencing and elaborate explanation- write a minimu.pdf

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  • 1. With appropriate referencing and elaborate explanation, write a minimum of 1,200+ words to explain ''Long Term Asset under the following sub-heading: Identify and distinguish between various types of long-term assets. Describe the valuation methods for property, plant, and equipment, including identifying costs that are usually capitalized. Explain why property, plant, and equipment assets are depreciated. Significance of Long-term Asset Cost Model Revaluation Model Depreciation, Depreciation method Straight-line method Unit of Production method Diminishing Balance method Accelerated depreciation method Double diminishing Balance Reading Depreciation Expense Corporate Income Tax Impairment Intangible Asset types Goodwill, Amortization