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Non-current assets, agriculture and inventories

Property, plant and equipment

1.1 Definitions

Property, plant and equipment (PPE) are tangible items which are
used to produce or supply goods, for rental, or for administrative
purposes over more than one period.

1.2 Summary of recognition and measurement

PPE

Cost to bring
Recognise asset to
initially at cost working

Revalue
Depreciate Revaluation
over useful life Cost model model whole
class

Depreciate
over useful life

Profit or loss on
disposal in P/L
Revaluation
gains in OCI.
Revaluation
losses in P/L if
no reval surplus

Further detail can be found in Section 1 of Chapter 5 in your Study Text.

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