Accounting - Impairment versus Depreciation of Fixed Assets

Accounting – Revaluation of Fixed Assets

Plant, property, and equipment (PPE) are also known as fixed assets and are used in the production process or supply of goods and services, administrative purposes, or any other activities in the business. The Singapore Financial Reporting Standards, FRS 16 – Property, Plant and Equipment allows business the accounts preparer to measure the value of […]

Accounting - Impairment versus Depreciation of Fixed Assets

Accounting Principles – Going On Concern Concept

The going concern concept states that a business will continue with its operations for the foreseeable future. The concept assumes that the company won’t be forced to discontinue its operations or liquidate due to any reason. A perfect example of implementation of such concept in accounting is the calculation of depreciation based on the anticipated economic […]