Scope of this reference
Inspect the standard and the scope used in the teaching material. The verification date describes the stored review.
- Authority
- Financial Accounting Standards Board
- Standard
- ASC Topic 360
- Version
- Codification content as verified 2026-08-08
- Where it applies
- United States GAAP
- Entities covered
- Entities applying US GAAP; bounded teaching facts exclude regulated, real-estate, lease, tax, and specialized extractive models
- Last source check recorded
- Aug 8, 2026
- Status recorded at review
- current
- Effective from
- Not specified in this record
Inspect the source: FASB Accounting Standards Codification Topic 360, Property, Plant, and Equipment
Check the applicable effective dates and later amendments in the source before applying this reference.
Concepts using this reference (25)
- Accretion expense
- Activity-method depreciation
- Asset acquisition cost
- Building
- Contributed asset
- Declining-balance depreciation
- Deferred-payment asset purchase
- Depletion
- Depreciation method
- Group and composite depreciation
- Held-for-sale long-lived asset
- Involuntary conversion
- Land
- Land improvement
- Lump-sum asset acquisition
- Natural-resource asset
- Nonmonetary asset exchange
- Partial-period depreciation
- Property, plant, and equipment rollforward
- Salvage value
- Self-constructed asset
- Straight-line depreciation
- Subsequent expenditure on property, plant, and equipment
- Sum-of-the-years'-digits depreciation
- Useful life
Instructional scope
This record supports a bounded US GAAP sequence for property, plant, and equipment after the packet has established asset identity, control, transaction scope, and measurement evidence. It distinguishes asset cost from immediate expense, systematic allocation from valuation, held-and-used accounting from held-for-sale routing, and ordinary disposal from broader component or business disposition questions.
Limitations
Nonmonetary exchanges, contributed assets, involuntary conversions, and specialized natural-resource questions can invoke guidance beyond Topic 360. The lesson uses explicitly supplied assumptions and sends unresolved branches to current paragraph-level research rather than manufacturing a conclusion.