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3 Cards in this Set
- Front
- Back
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PPE IFRS vs. ASPE |
Back (Definition) |
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Componentization |
When pieces of equipment don’t have the same usage patterns. (I.e. pipeline) - asset is broken apart for appropriate depreciation rates -IFRS recommends assets with similar useful lives be grouped together. |
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Construction Costs |
1. Cost incurred all directly attributable to cost of construction can be capitalized A. Construction permits B. Site Survey Costs C. Construction costs (labour, direct management salary and materials) D. Direct borrowing costs to finance (ASPE vs IFRS)** E. Professional fees |
