In this section, we’ll explain the accounting of property, plant and equipment (also known as fixed assets). By the end…
Impairment loss is the difference between an asset’s carrying amount and its recoverable amount. Purpose of this concept of calculating…
Property, plant and equipment (PPE) can be disposed off at any time. Either an item of PPE can be sold…
Accelerated depreciation technique encompasses various methods of depreciation under which depreciation expense gradually decreases over the useful life of PPE.…
Depreciation is the systematic allocation of the cost of an item of property, plant and equipment to the income statement…
In accounting, there are several areas where management’s estimates are involved. Accounting of property, plant and equipment (PPE) also involves…
An item of property, plant and equipment (PPE) is initially recognized at its cost, which includes all directly attributable expenditure…
Property, plant and equipment or fixed assets are tangible non-current assets of an entity. Tangible means having physical existence, whereas…
In this section, we’ll explain different types of assets and various accounting concepts associated with these assets. Some major categories…
Prepayments can be related to expenses as well as revenues, depending on whether an entity has paid cash in advance,…