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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."
Asset impairment was first addressed by the International Accounting Standards Board (IASB) in IAS 16, which became effective in 1983. [2] It was replaced by IAS 36, effective July 1999. [2] In United States GAAP, the Financial Accounting Standards Board (FASB) introduced the concept in 1995 with the release of SFAS 121. [3]
Personal protective equipment (PPE) is protective clothing, helmets, goggles, or other garments or equipment designed to protect the wearer's body from injury or infection. The hazards addressed by protective equipment include physical, electrical, heat, chemical, biohazards , and airborne particulate matter .
A doctor wearing personal protective equipment for treating patients with COVID-19. The use of personal protective equipment (PPE) is inherent in the theory of universal precaution, which requires specialized clothing or equipment for the protection of individuals from hazard. [1]
It is most commonly worn on the torso and arm area of the body. Health and safety regulations often require the use of high visibility clothing as it is a form of personal protective equipment. [1] [2] [3] Many colors of high visibility vests are available, with yellow and orange being the most common examples.
Medical gowns are hospital gowns worn by medical professionals as personal protective equipment (PPE) in order to provide a barrier between patient and professional. Whereas patient gowns are flimsy often with exposed backs and arms, PPE gowns, as seen below in the cardiac surgeon photograph, cover most of the exposed skin surfaces of the ...
These easy New Year's appetizer recipes, like fondue bites and shrimp cocktail, will keep the party going all night as you ring in New Year 2025.
Accrual basis of accounting: An entity shall recognise items as assets, liabilities, equity, income and expenses when they satisfy the definition and recognition criteria for those elements in the Framework of IFRS. [29] Materiality and aggregation: Every material class of similar items has to be presented separately. Items that are of a ...