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How companies account for long-term assets

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Reference no: EM132464002

Question 1: Why are long-term assets depreciated over the useful life of the asset and not shown as an expense in the year they are purchased or developed? Do you agree with treating long-term assets this way? Why or why not?

Question 2: What are some of the challenges inherent to accounting for long-term assets and the accuracy of the financial statements?

Question 3: How could accounting methods, depreciate equipment, and other long-term assets be used to manipulate net income and asset values reported in the financial statements?

Question 4: Are there ethical issues involved in how companies account for long-term assets?

Reference no: EM132464002

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