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University of Phoenix Wk 3 Fixed Asset Life Cycle and Accounting Issues Discussion

A fixed asset typically goes through the life cycle of acquisition, usage, and disposal. For each of these stages of the life cycle, discuss one key accounting issue related to a fixed asset the company must address.

Depreciation methods

IRS’ MACRS table

IRS’ MACRS depreciation

Depletion of natural resources

Depletion accounting

Amortization of intangible assets

Asset impairment

Impairment of long-term assets

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