When accounting for the investment in associate, I understand the measures to find goodwill (i.e. Purchase Price less Net Assets of company, then subtracting that from the fair value of identifiable net assets.) In the indentifiable net assets we include land. Yet, when we have to determine the investment in associate account at year-end for example, we only include the depreciation of PP&E, and exclude land. Just curious why that is, I’m not saying it’s wrong.
Land isn’t depreciable.
Was it really that simple, Bill? Of course it was. This is when I close my laptop slowly and hope that 7 mocks and 400 hours of studying payoff tomorrow…
P.S. thanks for all your help during this process on here, it was much appreciated.
You’re very welcome.
Best of luck tomorrow.