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IAS 16 applies to property, plant and equipment (PPE). The standard itself defines PPE as "tangible items that are held for use in the production or supply of goods or services, for rental to others, or for administrative purposes; and are expected to be used during more than one [accounting] period."
A fixed asset, also known as long-lived assets or property, plant and equipment (PP&E), is a term used in accounting for assets and property that may not easily be converted into cash. [1] Fixed assets are different from current assets, such as cash or bank accounts, because the latter are liquid assets. In most cases, only tangible assets are ...
Property, plant and equipment is recorded at its historical cost. [4] Cost includes:- Purchase price, including import duties and non-refundable purchase taxes, after deducting trade discounts and rebates; Any costs directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating.
The International Valuation Standards Council (IVSC) is an independent, not-for-profit, ... IVS 300 Plant and Equipment, IVS 400 Real Property Interests, IVS 410 ...
"Plant Replacement Value" (or "Functional Replacement Value") is the cost of replacing an existing building or structure at today's standards. The FCI can be used in the development and usage of Building Information Modeling for existing buildings.
Cornerstones of Managerial Accounting 4th edition-Chapter 2: Depreciation on plant buildings and equipment, janitorial and maintenance labor, plant supervision, materials handling, power for plant utilities, and plant property taxes. Management accounting by Eldon, Wiley, 1979 - Business & Economics
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The acronym MESC stands for Material and Equipment Standards and Code. It is a tool of the materials department for standardisation and handling of materials used in business. It was created in 1932 for internal use by Shell , but later on licensed to every company who wished to pay for it.