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Category: Property, plant and equipment

Property, plant and equipment

October 29, 2020 Khayyam Javaid, ACA

In this section, we’ll explain the accounting  of property, plant and equipment (also known as fixed assets). By the end…

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Posted in: Financial Accounting, Property, plant and equipment

Impairment of property, plant and equipment

October 28, 2020 Khayyam Javaid, ACA

Impairment loss is the difference between an asset’s carrying amount and its recoverable amount. Purpose of this concept of calculating…

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Posted in: Financial Accounting, Property, plant and equipment

Gains and losses on disposal of PPE

Khayyam Javaid, ACA

Property, plant and equipment (PPE) can be disposed off at any time. Either an item of PPE can be sold…

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Posted in: Financial Accounting, Property, plant and equipment

Accelerated depreciation

Khayyam Javaid, ACA

Accelerated depreciation technique encompasses various methods of depreciation under which depreciation expense gradually decreases over the useful life of PPE.…

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Posted in: Financial Accounting, Property, plant and equipment

Depreciation

Khayyam Javaid, ACA

Depreciation is the systematic allocation of the cost of an item of property, plant and equipment to the income statement…

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Posted in: Financial Accounting, Property, plant and equipment

Estimates in accounting of PPE

Khayyam Javaid, ACA

In accounting, there are several areas where management’s estimates are involved. Accounting of property, plant and equipment (PPE) also involves…

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Posted in: Financial Accounting, Property, plant and equipment

Cost model and revaluation model for PPE

Khayyam Javaid, ACA

An item of property, plant and equipment (PPE) is initially recognized at its cost, which includes all directly attributable expenditure…

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Posted in: Financial Accounting, Property, plant and equipment

Introduction to property, plant and equipment

Khayyam Javaid, ACA

Property, plant and equipment or fixed assets are tangible non-current assets of an entity. Tangible means having physical existence, whereas…

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Posted in: Financial Accounting, Property, plant and equipment

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    Financiopedia
    • Financial Accounting
      • Basics of accounting
      • Double-entry accounting system
      • Accounting cycle
      • Accounting principles
      • Bookkeeping
      • Accounting of assets
      • Property, plant and equipment
      • Financial instruments
      • Inventory
      • Accounts receivable
      • Accounting of liabilities
      • Accounting of income
      • Accounting of expenses
    • Management Accounting
      • Introduction
      • Relevant costing
      • Cost of Goods Sold Statement
      • Marginal and Absorption Costing
      • Inventory Valuation
      • Inventory Management
    • IFRS
      • IFRS 15 – Revenue from contracts with customers