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FASB Accounting Standards Codification Topic 360, Property, Plant, and Equipment

Authoritative US GAAP source for property, plant, and equipment questions, including held and used long lived asset impairment and disposal boundaries.

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About this authority

Publisher: Financial Accounting Foundation
Standing: Primary authority
Version: Topic 360 as accessed 2026-08-06
Relevant parts: Topic 360, Property, Plant, and Equipment; especially ASC 360-10-35 for held-and-used impairment and ASC 360-10-40-5 for sale gain or loss
Currency: current · checked Aug 6, 2026

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Topic 360 is the current US GAAP research starting point for the bounded long-lived-asset questions in this module. For a held-and-used asset group, the teaching sequence keeps the recoverability screen distinct from loss measurement: compare carrying amount with the applicable undiscounted cash-flow measure, and only after a failed screen use supplied fair value to measure the loss.

The asset-group boundary, cash-flow assumptions, fair-value support, and classification as held and used are substantive controls. The simplified numbers do not teach valuation or establish that one physical asset is always the unit of account.