Define property, plant, and equipment. Provide some examples.

Q: The FOB term is used with an identified physical location to determine_

A: FOB (Free On Board) is the term used to indicate who is responsible for the  goods if it is  damaged…

Q: Understand accounting issues related to acquiring and valuing plant assets.

A: Following are the accounting issues that are related to acquiring and valuing plant assets: a)  Cash…

Q: With reference to IAS 16 (Property, Plant and Equipment), discuss the differences between “the cost…

A: IAS 16 relates to the accounting for property, plant, and equipment unless another standard requires…

Q: Explain why an organization should buy or lease when purchasing equipment.

A: Leasing involves the two parties, a lessee and lessor ,Whereas purchasing involves a buyer and…

Q: Required: Explain to your friend the principal requirements of MFRS 116 Property, Plant and…

A: The principal requirements of MFRS 116 and the measurement model of P P E and its subsequent…

Q: Explain the accounting treatment of equipment acquired for use in R&D projects.

A:

Q: How can be Preservation and Maintenance of the Property can be done?

A: Preservation and Maintenance of Property can be done as follows: The borrower of the property…

Q: Distinguish between the cost of land and the cost of land improvements with example.

A: Land improvements means any type of alteration to the land to make it more usable. Land improvements…

Q: valuation assertion for property, plant,

A: Option B is wrong because by touring the hotel for unused to equipment will provide data only…

Q: What are the characteristics of plant assets?

A: Plant Asset: A plant asset is an asset purchased by the business that has a useful life exceeding…

Q: What characteristics of a plant asset make it different from other assets?

A: Assets means anything which will enable a business enterprise to get cash or benefit in…

Q: Discuss and explain the tension between “Asset Transformation” and “Asset Conversion”

A: There exists a subtle yet systematic tension between asset transformation and asset conversion. Both…

Q: Define Pledging.

A: When we talk about pledging in terms of accounting, it is to be noted that the word pledging is…

Q: This question related with MFRS 116 (property,plant and equipment).

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: What are the major characteristics of plant assets?

A:

Q: Define Intangible Assets.

A: Definition:   Assets: These are the resources owned and controlled by business and used to produce…

Q: Define Donated Assets.

A: Donated assets are the assets donated to governmental or non profit entity without any consideration…

Q: How do you identify an asset with reference to AASB?

A: Balance sheet: A balance sheet is a statement of assets, liability, and equity. It is prepared after…

Q: Definition of Land Improvements

A:

Q: Discuss and give examples of some of the indicators that affect asset classes

A: Asset classes:- An asset class is basically a collection of investments with some comparable…

Q: Property, Plant, and Equipment, Net

A: The gross property, plant, and equipment represent the total of long-term assets. Whereas, net…

Q: What are operational assets? Give example?

A: Operational assets: Operational assets are those assets acquired for use in the day to day…

Q: What are some examples of tangible and intangible assets?

A: Introduction:- Assets are mainly categories into two types based on the existence. these are as…

Q: Describe Self-Constructed Assets and explain  Research and Development

A: Property, plant and equipment:   Property, plant and equipment are the tangible assets which are…

Q: How can I compute the acquasition of plant assets?

A: The acquisition cost incurred on a plant asset is the cost expended to acquire and place the asset…

Q: provide an explanation of the concept of asset acquisition cost

A: The cost incurred in purchasing an asset is referred to as asset acquisition cost. It's beneficial…

Q: intangible asset (or asset class) that interests you.

A: Intangible assets are Goodwill , parent , Trademark , Copy right , Software etc. I am explaining…

Q: Define cost of land.

A: Land improvements: They are the improvements that are made to a plot of land to make it more usable.…

Q: Why It’s important to distinguish between the cost of land and the cost of land improvement?

A: The cost of land and cost of land improvements are to distinguished and are to be recorded…

Q: Define and provide an example for  Tangible property

A: Tangible property refers to such property which can be physically touched or felt by a person. It…

Q: Explain the Planning and Permitting Process?

A: A set of rules that are being made for the management of the complex systems by setting appropriate…

Q: What financial statement are property, plant, and equipment reported on, and how?

A: Property, Plant and Equipment (PPE) refers to all the tangible fixed assets or properties that a…

Q: What are plant assets?

A: Assets are the economic resource held or owned by the business entity for conducting the regular…

Q: For the given asset, A computer used in your job, state whether the asset is tangible/ intangible…

A: Three conditions must be fulfilled for an asset to be depreciated. The commodity must be kept in the…

Q: Define the term appraisal costs.

A:

Q: Explain Interests, Encumbrances, and Easements?

A: Interest refers to the additional amount paid by a borrower or received by an investor apart from…

Q: Asset disposal

A: Asset is the resources owned by a firm at a particular point of time out of which it is expected…

Q: What are the characteristics of an intangible asset?

A: Asset refers to any economic value resource for an individual, corporation or a country. It…

Q: What are the intangible assets? Give some examples?

A: Classification of Assets Assets can be classified in to three categories which are Fixed Assets,…

Q: Define Property, plant, and equipment

A: property, plant and equipment: they are company's physical or tangible long term assets.

Q: Define the following:a. Asset

A: Definition of Assets is given below,