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#cfa-level-1 #reading-22-financial-statement-analysis-intro
if a company acquires a piece of equipment to use in its operations, accounting standards require that the cost of the equipment be reported as an expense by allocating its cost less any residual value in a systematic manner over the equipment’s useful life.
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3.1.5. Financial Notes and Supplementary Schedules
ritical requirement for objective financial analysis, an analyst should be aware of the potential for differences in accounting choices even when comparing two companies that use the same set of accounting standards. For example, <span>if a company acquires a piece of equipment to use in its operations, accounting standards require that the cost of the equipment be reported as an expense by allocating its cost less any residual value in a systematic manner over the equipment’s useful life. This allocation of the cost is known as depreciation . Accounting standards permit flexibility, however, in determining the manner in which each year’s expense is determined. Two compa


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