ACC 291 Week 2 DQ 1,2,3,4,5,6 + references

May 1st, 2015
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ACC 291Discussion Questions: Week Two1. What are the differences among valuation, depreciation, amortization, and depletion? Is it appropriate to calculate depreciation using two different methods? Why?Valuation isprocess of determining an assets worth. Depletion and depreciation are different in that depreciation is the reduction in the value of assets whereas depletion is the reduction of a producers reserves. Amortization is the process of decreasing an amount over a period of time. Amortization is used for intangible assets while depreciation is used for tangible items. It is not appropriate to calculate depreciation using two different methods because the objective is to select the method that best measures an assets contribution to revenue over its useful life. Once the method is chosen, it should be applied consistently to enhance the comparability of fi

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