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This document provides accounting classifications for various acquisition and asset-related accounts. It specifies that acquisition and production costs, down payments, acquisition value, and down-payments clearing accounts should be classified as balance sheet accounts. Meanwhile, loss made on asset retirement without revenue, clearing account revenue from asset sale, gain/loss from asset sale, clearing revenue from sale to affiliated company, and revenue from post-capitalization should be classified as profit and loss accounts. The document also notes that revaluation of acquisition and production costs can be either a balance sheet or profit and loss account.
This document provides accounting classifications for various acquisition and asset-related accounts. It specifies that acquisition and production costs, down payments, acquisition value, and down-payments clearing accounts should be classified as balance sheet accounts. Meanwhile, loss made on asset retirement without revenue, clearing account revenue from asset sale, gain/loss from asset sale, clearing revenue from sale to affiliated company, and revenue from post-capitalization should be classified as profit and loss accounts. The document also notes that revaluation of acquisition and production costs can be either a balance sheet or profit and loss account.
This document provides accounting classifications for various acquisition and asset-related accounts. It specifies that acquisition and production costs, down payments, acquisition value, and down-payments clearing accounts should be classified as balance sheet accounts. Meanwhile, loss made on asset retirement without revenue, clearing account revenue from asset sale, gain/loss from asset sale, clearing revenue from sale to affiliated company, and revenue from post-capitalization should be classified as profit and loss accounts. The document also notes that revaluation of acquisition and production costs can be either a balance sheet or profit and loss account.
In AO90 the following should be a Balance Sheet Account
Acquisition:Acquis. and production costs
Acquisition: down payments Contra account: Acquisition value Down-payments clearing account Acquisition from affiliated company Revaluation acquis. and production costs The follwing should be a Profit and Loss Account: Loss made on asset retirement w/o reven. Clearing acct. revenue from asset sale Gain from asset sale Loss from asset sale Clear.revenue sale to affil.company Revenue frm post-capitaliz: Offsetting account: Revaluation APC