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NSW Commission of Audit Final Report Government Expenditure

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The accounting treatment of investments in property, plant and equipment and intangible assets entails the use of estimates to determine the useful life for depreciation and amortization purposes and to assess fair value at their acquisition dates for assets acquired in business combinations. Determining useful life requires making estimates in connection with future technological developments and alternative uses for assets.There is a significant element of judgment involved in making technological development assumptions, since the timing and scope of future technological advances are difficult to predict. ...
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NSW Commission of Audit Final Report Government Expenditure

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