LO1-01: Explain the concept of cost allocation as it pertains to property, plant, and equipment and intangible assets.
LO1-02: Determine periodic depreciation using both time-based and activity-based methods and account for dispositions.
LO1-03: Calculate the periodic depletion of a natural resource.
LO1-04: Calculate the periodic amortization of an intangible asset.
LO1-05: Explain the appropriate accounting treatment required when a change is made in the service life or residual value of property, plant, and equipment and intangible assets.
LO1-06: Explain the appropriate accounting treatment required when a change in depreciation, amortization, or depletion method is made.
LO1-07: Explain the appropriate treatment required when an error in accounting for property, plant, and equipment and intangible assets is discovered.
LO1-08: Identify situations that involve a significant impairment of the value of property, plant, and equipment and intangible assets and describe the required accounting procedures.
LO1-09: Discuss the accounting treatment of repairs and maintenance, additions, improvements, and rearrangements to property, plant, and equipment and intangible assets.
LO1-10: Discuss the primary differences between U.S. GAAP and IFRS with respect to the utilization and impairment of property, plant, and equipment and intangible assets.