Financial report learning - balance sheet - production assets - construction in progress, intangible assets, goodwill

Construction in progress and engineering materials

New construction, Projects that have not yet been completed, such as reconstruction, expansion, and renovation, are projects under construction. Materials prepared for projects under construction are project materials. Once completed, they are fixed assets; projects under construction do not need to be depreciated

Oil and gas assets

Oil wells, natural gas and related facilities and interests in mining areas owned or controlled by oil and gas mining companies. Oil and gas assets account for a large proportion of oil and gas, so they are disclosed separately

Intangible assets and development expenditures

Examples of assets owned by an enterprise that have no physical form but can be individually identified: patent rights, trademark rights, copyrights, land use rights, copyrights, etc.; intangible assets also need to be depreciated and amortized by another name , if the intangible asset has a limited useful life, it is similar to the depreciation of fixed assets, but the residual value is generally set to zero. If the intangible asset does not have a useful life, there will be no amortization and only an impairment test at the end of the period. After the impairment is determined No transfers allowed.

Biological assets

Living animals and plants. Whether it is alive or not is the dividing line between it and agricultural products. Examples of subjects that often appear in the reports of the agriculture, forestry, animal husbandry and fishery industries: vegetables and trees, chickens, ducks, cattle and sheep, aquatic products, etc.

It is difficult to judge the value of biological assets due to uncertainty. For example, how many scallops are in the sea, when they will run away, and when they will swim back are invisible to people on the shore

Business Reputation

Similar to intangible assets whose service life cannot be estimated, they do not need to be amortized and must be tested for impairment every year.

Economic goodwill

Economic goodwill is not necessarily synonymous with expensive purchases that cannot be individually identified but can bring excess profits to the company. , everything that can generate income is an asset, such as physical strength, intelligence, appearance, resources and connections, etc.

"My direct and indirect business analysis experience makes me particularly inclined to those with large amounts of money and sustainable economic businesses. Goodwill is a company that confirms that there is little need for tangible assets... In a period of inflation, economic goodwill is a gift that continues to create generous returns." - Warren Buffett

Investment last week came into contact with a new I am shorting corn futures, and I have a basic understanding of the trading rules. In summary, the method is to set the target take-profit and stop-loss levels according to my ability, and it is better not to look at it. It is a bit mind-numbing to be in it and keep looking at the curve like a heartbeat.