This session is all about longer term assets. One of a business’ key resources used to run its day to day operations are the physical assets it possesses. These physical assets come in two flavours, movable and immovable assets.

PPE may simply be a balance in the balance sheet but it is determined as a result of all kinds of transactions throughout the year, for e.g., additions, disposals, depreciation and revaluation, to name a few.

We’ll use this session to practice calculations and analyse the accounting entries in various scenarios, including appropriate cost measurement at initial recognition, how to account for subsequent measurement, depreciation, revaluation and derecognition, inter alia.