ACCT-212 Week 6 Discussion Assignment Access the balance sheet of a publicly … company, and list what items of assets are … in the property, plant, and equipment section on the asset side. Sele ct any one item from the property, plant, and equipment section, and discuss how you determine the co...
WEEK 6: NONCURRENT ASSETS AND RELATED LIABILITIES
Class, access the balance sheet of a publicly traded company, and list what items of assets are
reported in the property, plant, and equipment section on the asset side. Select any one item from
the property, plant, and equipment section, and discuss how you determine the cost of that item to
be reported on the balance sheet.
Assets are considered as the resources of the articles which are used in the day to day operations,
in order to generate profit and also to provide a future benefit to the company. Assets may be short-
term as well as long-term and there are two types of assets included under long-term assets which
are tangible and non-tangible.
Tangible assets are considered as the plant assets or property, plant, and equipment assets and are
also termed as fixed assets and these assets remain available in the business and used in the
manufacturing process. Assets included under the section of property, plant, and equipment are
displayed below:
a) Land
b) Building
c) Machinery
d) Equipment
e) Furniture
f) Vehicles
g) Fixtures
h) Leasehold
i) Land improvement etc.
I selected Starbucks's for the balance sheet assignment. Starbucks fiscal year ends October 1st. The
assets are listed from the most liquid to the least.
Amount after accumulated depreciation, depletion and amortization of physical assets used in the
normal conduct of business to produce goods and services and not intended for resale. Examples
include, but are not limited to, land, buildings, machinery and equipment, office equipment, and
furniture and fixtures.Equipment and land are grouped together in PP&E (property, plant, and
equipment).
The liability section is broken up into current and non-current liabilities. The current liabilities are
listed first. In the equity section loss or gains from accumulated other comprehensive income is
listed. Also, non-controlling interest is listed separately in the equity section.
The balance sheet provides creditors, investors, and analysts with information on company’s
resources (assets) and its sources of capital (its equity and liabilities). It normally also provides
information about the future earnings capacity of a company’s assets as well as an indication of
cash flows that may come from receivables and inventories.
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