Accounting Terminology
Listed Below Are Nine Technical Accounting Terms Introduced

Essay

Accounting terminology
Listed below are nine technical accounting terms introduced in this chapter:
$$\begin{array} { | l | l | l | } \hline \text { Half-year corvention } & \text { Capital expenditure } & \text { Accelerated depreciation } \\\hline \text { Reveruue expenditure } & \text { Straight-lire } & \text { Goodwill } \\\hline \text { Accurrulated depreciation } & \text { Research } & \text { depletion } \\\hline\end{array}$$ Each of the following statements may (or may not) describe one of these technical terms. In the space provided below each statement, indicate the accounting term described, or Answer "None" if the statement does not correctly describe any of the terms.
(a.) An expenditure to pay an expense of the current period.
(b.) An account showing the portion of the cost of a PPE asset that has been written off to date as depreciation expense.
(c.) A policy that fractional-period depreciation on assets acquired or sold during the period should be computed to the nearest month.
(d.) An intangible asset representing the present value of future earnings in excess of normal return on net identifiable assets.
(e.) Expenditures that could lead to the introduction of new products, but which, according to IFRS, should be viewed as an expense of the current accounting period.
(f.) Depreciation methods that take less depreciation in the early years of an asset's useful life, and more depreciation in the later years.
(g.) Depreciation methods that take more depreciation in the early years of an asset's useful life, and less depreciation in the later years.