Wiley GAAP: Financial Statement Disclosure Manual

25ASC 360 PROPERTY, PLANT, AND EQUIPMENT

1. Accounting Requirements
   1. Subtopics
2. Authoritative Literature
   1. ASC 360‐10, Overall
      1. Scope and Scope Exceptions
      2. Recognition and Measurement
   2. Authoritative Literature—ASC 360‐20, Real Estate Sales—Sale Leaseback Accounting
      1. Profit Recognition
3. Practice Alert
4. Presentation and Disclosure Requirements
   1. Presentation
      1. Long‐Lived Assets Classified as Held and Used
      2. Long‐Lived Assets Classified as Held for Sale
      3. Long‐Lived Assets to Be Disposed of Other Than by Sale
   2. Disclosure
      1. Impairment of Long‐Lived Assets Classified as Held and Used
      2. Long‐Lived Assets Classified as Held for Sale or Disposed Of
5. Presentation and Disclosure Examples
   1. Example 25.1: Policy for Maintenance and Repairs
   2. Example 25.2: Estimated Service Lives
   3. Example 25.3: Accounting Policy for Disposal of Property and Equipment
   4. Example 25.4: Accounting Policy for Review for Impairment
   5. Example 25.5: Components of Property and Equipment
   6. Example 25.6: Estimated Service Lives and Depreciation Expense
   7. Example 25.7: Cash Flows from Investing Activity, Including Property, Plant, and Equipment

ACCOUNTING REQUIREMENTS

Subtopics

ASC 360, Property, Plant, and Equipment, consists of two Subtopics:

• ASC 360‐10, Overall, which is further divided into two Subsections:
  • General, which provides guidance on accounting and reporting on property, plant, and equipment, including accumulated depreciation.
  • Impairment or disposal of long‐lived assets, which contains guidance for:
    • Recognizing impairment ...