What is the accounting difference between using the modified approach for infrastructure assets and depreciating infrastructure assets?
Question:
What is the accounting difference between using the modified approach for infrastructure assets and depreciating infrastructure assets? Under the modified approach, what happens if infrastructure assets are not maintained at or above the established condition level?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 37% (8 reviews)
Under the modified approach to accounting for infrastructure assets adjusting entries recognizing de...View the full answer
Answered By
Cyrus Sandoval
I a web and systems developer with a vast array of knowledge in many different front end and back end languages, responsive frameworks, databases, and best code practices. My objective is simply to be the best web developer that i can be and to contribute to the technology industry all that i know and i can do. My skills include:
- Front end languages: css, HTML, Javascript, XML
- Frameworks: Angular, Jquery, Bootstrap, Jasmine, Mocha
- Back End Languages: Java, Javascript, PHP,kotlin
- Databases: MySQL, PostegreSQL, Mongo, Cassandra
- Tools: Atom, Aptana, Eclipse, Android Studio, Notepad++, Netbeans.
Having a degree in Computer Science enabled me to deeply learn most of the things regarding programming, and i believe that my understanding of problem solving and complex algorithms are also skills that have and will continue to contribute to my overall success as a developer.
I’ve worked on countless freelance projects and have been involved with a handful of notable startups. Also while freelancing I was involved in doing other IT tasks requiring the use of computers from working with data, content creation and transcription.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Accounting for Governmental and Nonprofit Entities
ISBN: 978-1259917059
18th edition
Authors: Jacqueline L. Reck, James E. Rooks, Suzanne Lowensohn, Daniel Neely
Question Posted:
Students also viewed these Business questions
-
What is the accounting concept of a business combination?
-
What is the difference between using the modified approach to accounting for infrastructure assets and depreciating infrastructure assets? Under the modified approach, what happens if infrastructure...
-
Using the Modified Approach or Depreciation You are an auditor in a regional public accounting firm that does a large volume of governmental audits and consulting engagements. A large metropolitan...
-
A record company needs to produce 100 gold records at one or more of its three studios. the cost of producing x records at studio 1 is 10 x; the cost of producing y records at studio 2 is 2y 2 ; the...
-
The astronomical unit AU is defined as the mean distance from the Sun to the Earth (1 AU = 1.50 1011 m). Apply Kepler's third law (Equation 12-7) to the solar system, and show that it can be written...
-
Explain how improving quality cart lead to reduced costs.
-
Find the natural frequencies of torsional vibration of the stepped shaft shown in Fig. 12.36. Assume that \(ho_{1}=ho_{2}=ho, G_{1}=G_{2}=G, I_{p 1}=2 I_{p 2}=2 I_{p}, J_{1}=2 J_{2}=2 J\), and...
-
The Willow River Mining Company mines and ships coal. It has experienced the following demand for coal during the past eight years: Year Coat Sales (tons) 1 ...........4260 2 ...........4510 3...
-
Let g(x) be given by the graph: (a). (1 point) What are the domain and range of g? domainc Runge ( (b). (2 points) What are the domain and range of g? Sketch g on the axes provided: 3 2 -2 -3 (c). (3...
-
Part 3 1 2 3 4 Pangolin company wants to research specifically with libraries in the OH state. (Solve questions according to these filters.) (Each question is independent.) (Do not forget to clear...
-
What are examples of intangible assets held by governments? How are they reported?
-
If a capital project is incomplete at the end of a fiscal year, what happens to Encumbrances and all operating statement accounts at year-end?
-
Two identical speakers 10.0 m apart are driven by the same oscillator with a frequency of f = 21.5 Hz (Fig. P18.12) (a) Explain why a receiver at point A records a minimum in sound intensity from the...
-
Given the Supreme Court's "discovery" of penumbras in the Bill of Rights such as the right to privacy, should this right be extended to assisted suicide for terminally ill patients and/or access to...
-
What do you mean by the term Auditors Independence? How can you differentiate between Independence in fact and Independence in appearance? How the independence of an auditor can be ensured?
-
The construction team uses various models to describe the project that is to be built. What are the various models used by the construction team, and what does each depict?
-
The latest methodology adopted in auditing is the risk-based audit methodologyIn the light of the above statement, answer the following: (a) What is risk-based audit methodology? (b) Why audit risk...
-
Develop a checklist of items to consider in development of the site plan for either the bridge project or the building project.
-
An article in the Wall Street Journal in 2016 noted: Denmarks central bank has sold Danish kroner to weaken its currency and keep the euro within a target range. a. What does it mean to weaken a...
-
Using a graphing utility, graph y = cot -1 x.
-
Government-wide Financial Statements. Following is the governmental activities pre-closing trial balance for the Town of Freaz. Freaz is a relatively small town and, as a result, it has only...
-
Converting from Modified Accrual to Accrual Accounting. The Village of Rodale keeps its governmental find accounting records on a modified accrual basis. At the end of the fiscal year, the village...
-
Converting from Modified Accrual to Accrual Accounting. The Village of Rodale keeps its governmental find accounting records on a modified accrual basis. At the end of the fiscal year, the village...
-
Three not-for-profit organizations operate separately in Sunland City. The most established entity, Sunland Support, has been around for over 100 years and generates by far the largest amount of...
-
E. Chrissy's Vases is a boutique selling artisan vases. The boutique purchases several styles of vases from one source. The cost of the vases to the boutique is $10 each. All other costs for...
-
Hampton Muffins sells its muffins to restaurants and coffee houses for an average selling price of $26 per case. The following information relates to the budget for Hampton Muffins for this year (all...
Study smarter with the SolutionInn App