Syllabus D4

a) Define non-current assets.
b) Recognise the difference between current and non-current assets.
c) Explain the difference between capital and revenue items. 
d) Classify expenditure as capital or revenue expenditure.
e) Prepare ledger entries to record the acquisition and disposal of non-current assets.
f) Calculate and record profits or losses on disposal of non-current assets in the statement of profit or loss including part exchange transactions.
g) Record the revaluation of a non-current asset in ledger accounts, the statement of profit or loss and other comprehensive income and in the statement of financial position.
h) Calculate the profit or loss on disposal of a revalued asset.
i) Illustrate how non-current asset balances and movements are disclosed in financial statements.
j) Explain the purpose and function of an asset register.