Cambridge AS & A Level Accounting
1.3.2Changing asset values
Changing asset values in Cambridge AS & A Level Accounting: what the syllabus expects you to know, the learning objectives and how to practise.
Subtopic68 practice questions3 lessons
Learning objectives
What the syllabus expects you to be able to do.
- 1.3.2.1Explain the causes and purpose of depreciation and calculate it by the straight-line and reducing-balance methods, choosing the more appropriate method.
- 1.3.2.2Measure non-current assets by the cost model or the revaluation model.
- 1.3.2.3Prepare ledger accounts and journal entries for acquisition, revaluation, depreciation and disposal (including part exchange) and calculate profit or loss on disposal.
- 1.3.2.4Record the effect of depreciation in the statement of profit or loss and the statement of financial position.
Lessons
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Depreciation: causes, methods and accounting entries
45 min
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Disposal of non-current assets: profit, loss and part-exchange
45 min
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Non-current asset valuation: IAS 16, cost model and revaluation model
45 min
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Sample question
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