Non-current assets Flashcards
1
Q
What is the definition of Property, Plant and Equipment?
A
Tangible assets that are held for:
- use in production or supply of goods or services, for rental to others or for admin purposes
- are expected to be used during more than one period
2
Q
What is included in the cost of an PPE item?
A
- Purchase price
- Import duties
- Directly attributable costs (delivery, installation, assembly, training and testing)
