I have this report and i have to report something about accounting that may classmate may not know so i would like to know how accounting is taught in your country i would like to hear from all of you i'll be waiting until nov. 18, 2007 tnx (^_^)
2007-11-13 17:17:11 · 2 answers · asked by HEYNgel 1 in Business & Finance ➔ Careers & Employment ➔ Other - Careers & Employment
In America assets are on the books at cost forever less accumulated depreciation to be conservative.
So if a company say buys land and a building for 1 million in 1980 and now it is worth 3 million they may have fully depreciated the building so only have a net asset of the cost of the land.
In Canada I heard the value the assets at current value so the balance sheet could be off by millions from an American company.
We have some cases like that in this country like pension plans would have the current value of stocks being held not just what they cost.
2007-11-13 17:53:08 · answer #1 · answered by shipwreck 7 · 0⤊ 0⤋
It might help if you let us know where you are from. I'm in the USA and Accounting was never offered as a class until college, and even then it wasn't required. I don't think that was right, but that's how it was. We were busy taking useless Algebra and Calculus classes.
2007-11-14 01:36:28 · answer #2 · answered by Anonymous · 0⤊ 0⤋