AS - 10 - Property, Plant and Equipment [w.e.f 30-3-2016]

Property, Plant and Equipment accounting: recognition, measurement, depreciation and disclosure rules govern asset reporting and revaluation.

This Standard prescribes recognition of property, plant and equipment only when probable future economic benefits will flow and cost can be measured reliably, initial measurement at cost including directly attributable costs and decommissioning obligations, and subsequent application of either the cost model (cost less accumulated depreciation and impairment) or the revaluation model (revalued fair value less subsequent depreciation and impairment) applied by asset class. Depreciation is allocated systematically over useful life, significant parts are depreciated separately, impairments follow the impairment standard, and derecognition occurs on disposal or when no future benefits are expected.