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of <h1>Accounting for property, plant and equipment: recognising, measuring at cost or revaluation, component depreciation, impairment and disposal rules.</h1> Prescribes accounting treatment for property, plant and equipment (PPE), including bearer plants, by defining PPE and setting recognition criteria requiring probable future economic benefits and reliable measurement, with qualifying spare parts capitalised and routine servicing expensed. PPE is initially measured at cost, comprising purchase price, directly attributable costs, and decommissioning/restoration obligations, with specific rules for deferred payments, non-monetary exchanges, consolidated purchases, finance leases, and government grants. After recognition, an enterprise applies either the cost model or a class-wise revaluation model, with revaluation movements taken to profit and loss or revaluation surplus as specified. Requires component depreciation, annual review of useful life/residual value/method, and prohibits revenue-based depreciation. Provides rules for impairment assessment, compensation recognition, assets held for disposal, derecognition and gain/loss recognition, and detailed class-wise disclosures and transitional application.
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