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Kalynn Haley
on Nov 18, 2024

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The acquisition costs of property, plant, and equipment should include all normal, reasonable and necessary costs to get the asset in place and ready for use.

Acquisition Costs

The total cost incurred to acquire an asset or service, including the purchase price and any additional costs necessary to bring the asset into working condition.

Property

Legal rights or interests in land, buildings, or other assets, which can include ownership of the asset itself and usage rights.

Equipment

Tangible property used in operations, such as machinery, computers, and tools, that is not intended for sale.

  • Master the aspects and grouping of fixed assets.
  • Discern the essential constituents and value of capital and revenue expenditures.
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Brooklyn SmithNov 21, 2024
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