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Depreciation and Amortization Expense

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Depreciation and Amortization Expense 4-5 paragraphs Your friend Lucy slept through a class in which her professor explained the concepts of depreciation and amortization. Use the Library’s Accounting links and/or dictionary sources and the Internet to learn about these concepts, and then write a 4-5 paragraph explanation of the concepts for Lucy. Be sure to cite your sources. Where are ending with a wonderfully easy discussion board topic! Yeahhhh!!!!! Although you will want to review the text to help you define depreciation and amortization since other dictionaries may give you different meanings, make sure you DO NOT cut and paste any information from a dictionary or a website, this posting must be in your OWN WORDS. Also it is important that you remember that depreciation is used for tangible assets such as buildings, plant, equipment, furniture and fixtures. Amortization is used for intangible assets (not loans in this case) such as patents, franchise licenses, copyrights and goodwill. Join is in the chat when we discuss goodwill and its implications on the balance sheet 🙂 Let’s tell Lucy how depreciation and amortization affect the income statement and the profitability of the company as well as its affect on the income taxes a company pays. Also address the advantages of an accelerated method of depreciation and how that affects net income, the balance sheet as well as the income taxes paid. Talk to your company accountants, how is depreciation and amortization handled in your company? Finally, since the use of depreciation can result in assets on the balance sheet having a lower value than the actual fair market value (what we could get for the asset at auction), and if the goal of the balance sheet is to show external readers the value of what the company actually owns and owes, can you thing of better method to use or is straight line depreciation the best way to go? Draw upon your professional experience and use examples that relate to your industry if possible. Remember you are explaining this to a fellow student so do not hesitate to put this into layman’s terms and use examples that you think Lucy could relate to (now that you are all accounting experts!). For hints on this week’s IP assignment, please join us for the chat session or check out the chat archives. In order to be awarded 70 points (a high A), students should answer the discussion board question fully and intelligently the student must: provide additional information to the discussion that would be informative; share your own personal experiences that relate to the topic; share a URL website with other students and explanation for an area you researched on the Internet. Business Management Assignment Help, Business Management Homework help, Business Management Study Help, Business Management Course Help

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