AccountancyIQ

Understanding the nuances of accounting standards can be complex, especially when it comes to properties, plants, and equipment (PPE). In this video, I discuss various classifications of PPE and their accounting treatments.From assets used directly in business operations (IAS 16) to those rented out to others (IAS 40), each category has distinct valuation methods. PPE marked for disposal within 12 months falls under IFRS 5, while those bought for resale are governed by IAS 2.Surprisingl...