Asset refers to the resource which is owned by the organization. It is used to operate the primary activities of the business and produce the required output. To discuss: Whether the Company G's trained employees meet the definition of an asset. The characteristics of an asset and whether the employees meet these characteristics.

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Answer 1

Question

Chapter 2, Problem 2.6C

a.

To determine

Introduction: Asset refers to the resource which is owned by the organization. It is used to operate the primary activities of the business and produce the required output.

To discuss: Whether the Company G's trained employees meet the definition of an asset. The characteristics of an asset and whether the employees meet these characteristics.

b.

To determine

Introduction: Human capital refers to the knowledge, skills, which a single person possess and the ability to perform in terms of some financial value.

The amount to place a value to Company g’s employee if it’s possible as per SFAC No.5, and whether they should be reported as an asset in the balance sheet.

c.

To determine

Introduction: Prospective investor refers to the one from whom the organization has proposed for obtaining the financing to be proposed.

To explain: Whether the value expressed would be more relevant to investors and whether the capital asset be more faithful if human capital is considered.

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Gabel Company spent money to train its employees so that they can be productive workers. Such expenditures are often referred to as investments in human capital. Required:A. Do you think that Gabel Company’s trained employees meet the definition of an asset? Explain. In your answer, discuss the characteristics of an asset and whether you think they meet each of those characteristics.B. Most accountants would say that human capital is valuable but that it is difficult, or even impossible, to measure the value of human capital. Given that you cannot determine an amount to place a value on the Gabel Company’s employees, but you think that they are assets, what would SFAC No. 5 tell you to do? Should you report them as an asset in the company’s balance sheet? Explain.C. If a value can be estimated for Gabel Company’s trained employees, I.) Would that value be more relevant or more reliable to a prospective investor? Explain. II.) Would the company’s assets reported in its balance…

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Give two advantages and two disadvantages of using Net Present Value as an investment appraisal technique. Explain in no more than one sentence why each point you make is an advantage or disadvantage as if explaining to someone that has no understanding of the terminology or accounting jargon. The Graduate Recruitment Manager of WCITJ Ltd is interested in you as a potential summer intern and future employee. Like all employers, he is only impressed by students that are self motivated, that can communicate well, and those that research and read around their topics. He has asked you to explain, in one concise short paragraph each, three accounting concepts that you have read about during your initial study of accounting as part of your course.

Answer 2

Question

Chapter 2, Problem 2.6C

a.

To determine

Introduction: Asset refers to the resource which is owned by the organization. It is used to operate the primary activities of the business and produce the required output.

To discuss: Whether the Company G's trained employees meet the definition of an asset. The characteristics of an asset and whether the employees meet these characteristics.

b.

To determine

Introduction: Human capital refers to the knowledge, skills, which a single person possess and the ability to perform in terms of some financial value.

The amount to place a value to Company g’s employee if it’s possible as per SFAC No.5, and whether they should be reported as an asset in the balance sheet.

c.

To determine

Introduction: Prospective investor refers to the one from whom the organization has proposed for obtaining the financing to be proposed.

To explain: Whether the value expressed would be more relevant to investors and whether the capital asset be more faithful if human capital is considered.

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Answer 3

Question

Chapter 2, Problem 2.6C

a.

To determine

Introduction: Asset refers to the resource which is owned by the organization. It is used to operate the primary activities of the business and produce the required output.

To discuss: Whether the Company G's trained employees meet the definition of an asset. The characteristics of an asset and whether the employees meet these characteristics.

b.

To determine

Introduction: Human capital refers to the knowledge, skills, which a single person possess and the ability to perform in terms of some financial value.

The amount to place a value to Company g’s employee if it’s possible as per SFAC No.5, and whether they should be reported as an asset in the balance sheet.

c.

To determine

Introduction: Prospective investor refers to the one from whom the organization has proposed for obtaining the financing to be proposed.

To explain: Whether the value expressed would be more relevant to investors and whether the capital asset be more faithful if human capital is considered.

Expert Solution & Answer

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Answer 4

Question

Chapter 2, Problem 2.6C

a.

To determine

Introduction: Asset refers to the resource which is owned by the organization. It is used to operate the primary activities of the business and produce the required output.

To discuss: Whether the Company G's trained employees meet the definition of an asset. The characteristics of an asset and whether the employees meet these characteristics.

b.

To determine

Introduction: Human capital refers to the knowledge, skills, which a single person possess and the ability to perform in terms of some financial value.

The amount to place a value to Company g’s employee if it’s possible as per SFAC No.5, and whether they should be reported as an asset in the balance sheet.

c.

To determine

Introduction: Prospective investor refers to the one from whom the organization has proposed for obtaining the financing to be proposed.

To explain: Whether the value expressed would be more relevant to investors and whether the capital asset be more faithful if human capital is considered.

Expert Solution & Answer

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Answer 5

Chapter 2, Problem 2.6C

a.

To determine

Introduction: Asset refers to the resource which is owned by the organization. It is used to operate the primary activities of the business and produce the required output.

To discuss: Whether the Company G's trained employees meet the definition of an asset. The characteristics of an asset and whether the employees meet these characteristics.

b.

To determine

Introduction: Human capital refers to the knowledge, skills, which a single person possess and the ability to perform in terms of some financial value.

The amount to place a value to Company g’s employee if it’s possible as per SFAC No.5, and whether they should be reported as an asset in the balance sheet.

c.

To determine

Introduction: Prospective investor refers to the one from whom the organization has proposed for obtaining the financing to be proposed.

To explain: Whether the value expressed would be more relevant to investors and whether the capital asset be more faithful if human capital is considered.

Answer 6

Chapter 2, Problem 2.6C

a.

To determine

Introduction: Asset refers to the resource which is owned by the organization. It is used to operate the primary activities of the business and produce the required output.

To discuss: Whether the Company G's trained employees meet the definition of an asset. The characteristics of an asset and whether the employees meet these characteristics.

Answer 7

Chapter 2, Problem 2.6C

a.

To determine

Introduction: Asset refers to the resource which is owned by the organization. It is used to operate the primary activities of the business and produce the required output.

To discuss: Whether the Company G's trained employees meet the definition of an asset. The characteristics of an asset and whether the employees meet these characteristics.

Answer 8

b.

To determine

Introduction: Human capital refers to the knowledge, skills, which a single person possess and the ability to perform in terms of some financial value.

The amount to place a value to Company g’s employee if it’s possible as per SFAC No.5, and whether they should be reported as an asset in the balance sheet.

Answer 9

b.

To determine

Introduction: Human capital refers to the knowledge, skills, which a single person possess and the ability to perform in terms of some financial value.

The amount to place a value to Company g’s employee if it’s possible as per SFAC No.5, and whether they should be reported as an asset in the balance sheet.

Answer 10

c.

To determine

Introduction: Prospective investor refers to the one from whom the organization has proposed for obtaining the financing to be proposed.

To explain: Whether the value expressed would be more relevant to investors and whether the capital asset be more faithful if human capital is considered.

Answer 11

c.

To determine

Introduction: Prospective investor refers to the one from whom the organization has proposed for obtaining the financing to be proposed.

To explain: Whether the value expressed would be more relevant to investors and whether the capital asset be more faithful if human capital is considered.

Answer 12

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Answer 13

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Answer 14

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Answer 15

Ch. 2 - Prob. 2.1C Ch. 2 - Prob. 2.2C Ch. 2 - Prob. 2.3C Ch. 2 - Prob. 2.4C Ch. 2 - Prob. 2.5C Ch. 2 - Prob. 2.6C Ch. 2 - Prob. 2.7C

Solution Summary: The author explains the definition of an asset and the characteristics of it.

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Introduction: Prospective investor refers to the one from whom the organization has proposed for obtaining the financing to be proposed.

To explain: Whether the value expressed would be more relevant to investors and whether the capital asset be more faithful if human capital is considered.

Want to see the full answer?

Chapter 2 Solutions

Solution Summary: The author explains the definition of an asset and the characteristics of it.

Videos

Introduction: Prospective investor refers to the one from whom the organization has proposed for obtaining the financing to be proposed. To explain: Whether the value expressed would be more relevant to investors and whether the capital asset be more faithful if human capital is considered.

Want to see the full answer?

Chapter 2 Solutions

Introduction: Prospective investor refers to the one from whom the organization has proposed for obtaining the financing to be proposed.

To explain: Whether the value expressed would be more relevant to investors and whether the capital asset be more faithful if human capital is considered.