Keeping the Asphalt Industry in the Black Asphalt Plant Equipment For over 45 years Herman Grant Company has supplied the asphalt industry with high quality asphalt plant parts and industrial asphalt plant equipment. Each year more and more companies all over the world discover the value of high quality Herman Grant manufactured equipment and parts. From replacement drums and dryers custom fabricated in our Chattanooga factory, to a complete inventory of the highest quality replacement parts, Herman Grant is the one reliable source you need to keep your plant operating dependably and profitably. Herman Grant's fully staffed engineering department will custom fabricate your equipment utilizing state of the art auto CAD software.
There is hardly any business that do not require physical assets such as land, building, computers, vehicles, furniture, etc.
Some require more physical assets and some require less. Industries or businesses requiring more fixed assets are called capital intensive, such as an oil Plant and equipment, a milk processing plant, etc. Those requiring less fixed assets but more labor are called labor intensive, such as an accounting firm, an event arrangement company, a bank, etc.
Expenditure incurred on purchase or construction of property, plant and equipment is called capital expenditure.
Such an expenditure is capitalized which means that it is recorded on the balance sheet and written off as expense over the useful life of the fixed asset through a process called depreciation.
Cost Fixed assets are recognized by a company when it gains control over economic benefits generated from the assets. All fixed assets are recognized at their historical cost which is the reliable estimate of all costs that are necessary to bring it to its intended use.
The capitalized cost of a fixed asset has different components depending on the class of asset: Cost of land includes: Cost of buildings includes: Cost leasehold improvement include: Useful life Each fixed asset has a certain useful life, i.
Salvage value Salvage value also called scrap value or residual value is the expected value a fixed asset will have at the end of its useful life. Fixed assets lose value as they get older due to wear and tear, obsolescence, etc. However, their value normally does not drop to zero even at the end of their useful life, because they normally have some secondary use or because the material used in the asset could be recycled into another fixed asset.
Depreciation expense is the amount subtracted from revenue in an accounting period on account of wear and tear, obsolescence, etc.
It is subtracted from the cost of the asset to arrive at carrying value of the asset on the balance sheet. Accumulated impairment losses Sometimes a fixed asset may lose value which is not captured by the process of depreciation.
For example in case of a fire or flood, a factory building may loose more than half of its value, which will result in recognition of impairment loss on the factory building.
Carrying value Carrying value is the amount at which a fixed asset is presented on a balance sheet. The cost included shipment to port of Gwadar. The installation was completed on 10 April Calculate the amount at which the plant shall be capitalized on 1 May The company charges depreciation on straight-line basis.Edwards World Plant and Equipment Maintenance Management provides a complete view of your equipment-related expenditures.
You are able to match project costs to revenues more accurately for proper allocation of equipment overheads, revenue recognition, and contract or service billing. You increase the life of your equipment with regular servicing. Asphalt Plant Equipment.
For over 45 years Herman Grant Company has supplied the asphalt industry with high quality asphalt plant parts and industrial asphalt plant kaja-net.com year more and more companies all over the world discover the value of high quality Herman Grant manufactured equipment .
Plant Equipment and Maintenance Engineering Handbook contains a data log of all major industrial and power plant components, describes how they function, and includes rules of thumb for operation.
Hundreds of handy reference materials, such as calculations and tables, plus a comprehensive listing of electrical parts with common supplier. The Perils of Plant Equipment Neglect.
Unchecked, small plant equipment woes, like a fissure in a chemical vessel or a wobble in a compressor fixture, can grow into serious business problems.
PROPERTY, PLANT, AND EQUIPMENT b The Federal Government's investment in PP&E exceeds $1 trillion [SEE NOTE 1] PP&E used for many different purposes. "PP&E" is defined as follows: Tangible assets that (1) have an estimated useful life of 2 or more years, (2) are not intended for. property, plant and equipment so that users of financial statements can discern information about an entity’s investment in its property, plant and equipment and the changes in such investment.
The principal issues in accounting for property, plant and equipment are the recognition of the assets, the.