View solution to the question: Explain the conventional accounting concept of depreciation accounting, and discuss its conceptual merit with respect to a the value of the asset, b the amount s expensed, and c the discretion of management in selecting the method. Explain the factors that should be considered when applying the conventional concept of depreciation to the determination of how the value of a newly acquired computer system should be assigned to expense for financial reporting purposes. Ignore income tax considerations for this case.
Explain the conventional accounting concept of depreciation accounting, and discuss its conceptual merit with respect to a the value of the asset, b the amount s expensed, and c the discretion of management in selecting the method. Explain the factors that should be considered when applying the conventional concept of depreciation to the determination of how the Conventional accounting of a newly acquired computer system should be assigned to expense for financial reporting purposes.
Ignore income tax considerations for this case. What depreciation methods might be used for the computer system? Choose Requirement 1 or Requirement 2 and provide a substantive response. Once you have presented a response to the requirement chosen, choose a depreciation method and describe how it is used.
Conventional accounting how depreciation is calculated using the method and whether or not you feel the depreciation method gives a good estimate of the cost allocation of the asset. Use your readings from the text and at least one additional academic resource to provide support for your response.
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PLAY. Conversion cost is the sum of direct labor cost and direct materials cost. but is omitted from conventional accounting records? Selling and administrative expenses are product costs under generally accepted accounting principles.
false. Conventional accounting is a very powerful tool for business management used both for reporting money profit performance to investors and used within the internal.
Conventional management accounting, or cost accounting, is a system of accounting used to provide information to managers within an organization.
In conclusion, Accounting as a tools doesnt have religion but the way parties put accounting in transaction according the framework (conventional or shariah) made accounting .
Broadway offers manual accounting training in Nepal considering the conventional accounting method that is in practice in most of the organizations. The training covers important aspects of manual accounting such as journal and ledger preparation, recording accounting transactions, receivables and payables management and so on.
Conventional Accounting:Based upon modern commercial law-permissive rather than ethicalLimited disclosure (provision of information subject to public interest)Personal accountability (focus on.