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typical method ...

Posted on: June 3, 2022 at 16:53:46 CT
tmcats KSU
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"Fixed assets are recorded at cost at date of acquisition for purchased items. Donated items are recorded at fair market value on the date received. Depreciation is calculated on the straight-line basis over the estimated useful life of each class of depreciable asset. Estimated lives range from 5 to 50 years. Since land does not have an estimated useful life, it is not depreciated."

https://www.k-state.edu/finsvcs/generalaccounting/assetmngt/fixedassetmgt.html

Edited by tmcats at 16:54:39 on 06/03/22
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Does anyone know how Mizzou accounts for fixed assets? - ScottsdaleTiger MU - 6/3 16:41:56
     Don't think there's a poster who is more ill-fitted for the - Cosmo MU - 6/4 09:07:32
     You Shack-killing SOB (nm) - Tigrrrr! MU - 6/4 07:55:10
     Ooooh, I love it when you talk accounting. Just kidding... - Deputy Dawg MU - 6/3 18:34:16
     typical method ... - tmcats KSU - 6/3 16:53:46
          WADR: Mizzou doesn't seem to do it that way - ScottsdaleTiger MU - 6/3 19:44:18
               mizzou athletics is not transparent with financials .. - tmcats KSU - 6/3 22:02:16
                    Bingo(nm) - DevilsAdvocate KC - 6/4 13:45:47
               They write it off - colonel angus beef KC - 6/3 20:36:28
                    it has to be accounted for regardless how ... - tmcats KSU - 6/3 22:03:24
                         I think he was alluding to this scene - lqf2b8 MU - 6/4 10:29:40
                              Correct. Also, if something its a write off that necessarily - colonel angus beef KC - 6/5 10:48:20
     Why do you ask? (nm) - JeffB MU - 6/3 16:50:40
          Generally Accepted Accounting Principles - ScottsdaleTiger MU - 6/4 00:21:36
               The university is not a business - BigDave MU - 6/4 06:12:19
                    Furthermore, the athletic department is a separate legal - TigerNuts KC - 6/4 13:08:26
                    Thank you, after some thought I came to that conclusion - nm - ScottsdaleTiger MU - 6/4 06:21:52
                         Harder to follow. Don’t know why athletics isn't treated - DevilsAdvocate KC - 6/4 13:48:36




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