1 The objective of this Standard is to prescribe the accounting treatment for property, plant and equipment so that users of the financial statements can discern information about an entity’s investment in its property, plant and equipment and the changes in such investment. The principal issues in accounting for property, plant and equipment are the recognition of the assets, the determination of their carrying amounts and the depreciation charges and impairment losses to be recognised in relation to them.
2 This Standard shall be applied in accounting for property, plant and equipment except when another Standard requires or permits a different accounting treatment.
3 This Standard does not apply to:
- property, plant and equipment classified as held