You are working for Mindak LLP, an accounting consulting firm, as a research and accounting specialist. Rowling Inc., an important manufacturing client, has asked you to research and explain the accounting rules for property, plant and equipment issues that the company is experiencing. The client wants you to reference and briefly explain the GAAP rules provided in the FASB codification. Rowling Inc. will then use your business professional memo to look up the rules in the codification.

Instructions: Research the FASB codification to identify several areas of interest (Items a-d below) for your client. Find all parts of the codification that relate to the item requested and then list the ASC Topic, Subtopic, Section and Paragraph for each area that you find. You need to reference all of the codification solutions as FASB ASC XXX-XX-XX-X. You should not copy and paste paragraphs and sentences from the codification into your solution. The client will go to the code reference and look up the GAAP guidance.

In your own words, in addition to citing the reference areas, include 2 sentences that describe the information for the following issues:

(a) the capitalization period for interest being capitalized on self-constructed assets,

(b) impairment of property, plant and equipment,

(c) changes in the estimate of depreciation useful life or salvage value,

(d) the primary disclosures that need to be made for property, plant and equipmen