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of <h1>Accounting Standard 10: Guidelines for Property, Plant, and Equipment on Recognition, Depreciation, and Impairment Losses</h1> The Accounting Standard (AS) 10 outlines the accounting treatment for property, plant, and equipment, focusing on asset recognition, carrying amounts, depreciation, and impairment losses. It applies to tangible items used in production, supply, rental, or administrative purposes, with expected use beyond twelve months. Exclusions include biological assets, wasting assets, and investment properties. The standard prescribes cost measurement at recognition, subsequent cost allocation, and revaluation models. Depreciation methods must reflect the asset's consumption pattern, while impairment and derecognition principles address asset valuation adjustments. Disclosure requirements include measurement bases, depreciation methods, and asset reconciliation, enhancing transparency in financial statements.
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