FAC 3702 SUMMARY
Johns Hopkins University
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FAC 3702 UNIT 1 SUMMARY
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Each part of PPE-item with a cost that is significant in relation to total cost of the item must

be depreciated separately.

Entity allocates amount initially recognised in respect of a PPE-item to its significant parts

and depreciates separately each part

Significant part of PPE-item with same useful life and depreciation methods may be grouped

together in order to determine depreciation

Depreciation of an asset begins when it is available for use as intended by management.

Depreciation c...
Summary
FAC 3702 UNIT 1 SUMMARY
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ago
Each part of PPE-item with a cost that is significant in relation to total cost of the item must 
be depreciated separately. 
Entity allocates amount initially recognised in respect of a PPE-item to its significant parts 
and depreciates separately each part 
Significant part of PPE-item with same useful life and depreciation methods may be grouped 
together in order to determine depreciation 
Depreciation of an asset begins when it is available for use as intended by management. 
Depreciation c...
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