Property Plant and Equipment

Description

The assessment focuses on the application of the concepts and principles of the accounting standards related to Property, Plant & Equipment.  The assessment focuses on the application of the following principles:

• classification of transactions as Property, Plant & Equipment
• cost determination of items of Property, Plant & Equipment
• developing and applying a depreciation policy
• de-recognition and disposal of items of Property, Plant & Equipment
• recognition of exchange transactions involving items of Property, Plant & Equipment
• recognition of the replacement of major parts related to Property, Plant & Equipment
• recognition of component assets
• recognition of repairs and improvement expenses to Property, Plant & Equipment