UK GAAP 2019

Chapter 15Property, plant and equipment

• 1 INTRODUCTION
• 2 COMPARISON BETWEEN SECTION 17 AND IFRS
  • 2.1 Accounting for non-current assets held for sale
  • 2.2 Revenue-based depreciation method
  • 2.3 Intra-group investment property
  • 2.4 Bearer plants
  • 2.5 Disposal of PP&E
  • 2.6 Disclosures
• 3 REQUIREMENTS OF SECTION 17 FOR PROPERTY, PLANT AND EQUIPMENT
  • 3.1 Terms used in Section 17
  • 3.2 Scope of Section 17
  • 3.3 Recognition
    • 3.3.1 Aspects of recognition
      • 3.3.1.A Spare parts and minor items
      • 3.3.1.B Environmental and safety equipment
      • 3.3.1.C Property economic benefits and property developments
      • 3.3.1.D Classification as PP&E or intangible assets
      • 3.3.1.E Classification of items as inventory or PP&E when minimum levels are maintained
      • 3.3.1.F Production stripping costs of surface mines
    • 3.3.2 Accounting for parts (‘components’) of assets
      • 3.3.2.A Land and buildings
    • 3.3.3 Initial and subsequent expenditure
      • 3.3.3.A Cost of major inspections
    • 3.3.4 Properties with mixed use
  • 3.4 Measurement at initial recognition
    • 3.4.1 Elements of cost and cost measurement
      • 3.4.1.A ‘Directly attributable’ costs
      • 3.4.1.B Borrowing costs
      • 3.4.1.C Costs that are not PP&E costs
      • 3.4.1.D Cessation of capitalisation
      • 3.4.1.E Self-built assets
      • 3.4.1.F Deferred payment
      • 3.4.1.G Land and buildings to be redeveloped
      • 3.4.1.H Transfers of assets from customers
      • 3.4.1.I Variable consideration
    • 3.4.2 Incidental and non-incidental income
      • 3.4.2.A Income received during the construction of property
      • 3.4.2.B Liquidated damages during ...