CATATAN SEMASA KULIAH

 Property, Plant, and Equipment LEARNING OBJECTIVE 1 Identify property, plant, and equipment and its related costs. Companies like Hon Hai Precision (TWN), Tata Steel (IND), and Royal Dutch Shell (GBR and NLD) use assets of a durable nature. Such assets are called property, plant, and equipment. Other terms commonly used are plant assets and fixed assets. We use these terms interchangeably. Property, plant, and equipment is defined as tangible assets that are held for use in production or supply of goods and services, for rentals to others, or for administrative purposes; they are expected to be used during more than one period. [1] (See the Authoritative Literature References section near the end of the chapter.) Property, plant, and equipment therefore includes land, building structures (offices, factories, warehouses), and equipment (machinery, furniture, tools). The major characteristics of property, plant, and equipment are as follows. 1. They are acquired for use in operation...

 This chapter also includes numerous conceptual discussions that are integral to the topics presented here. PREVIEW OF CHAPTER 1 As the following opening story indicates, countries are moving quickly to adopt International Financial Reporting Standards (IFRS). It is estimated that over 300 of the 500 largest global companies are using IFRS. However, the accounting profession faces many challenges in establishing these standards, such as developing a sound conceptual framework, use of fair value measurements, proper consolidation of financial results, off-balance-sheet financing, and proper accounting for leases and pensions. This chapter discusses the international financial reporting environment and the many factors affecting it, as follows. Continuing Evolution of International Financial Reporting The age of international trade and the interdependence of national economies continue to evolve. Many of the largest companies in the world often do more of their business in foreign la...