Plant and equipment
Plant and equipment are long-lived assets such as equipment, buildings, or land that are used in the production or sale of goods or services.
Definitions
According to College Accounting: A Practical Approach by Slater (13th edition),
- Plant and equipment. Long-lived assets such as equipment, buildings, or land that are used in the production or sale of goods or services.
Related concepts
- Accounting (alternatively known as accountancy) is management of financial data, information, and knowledge about financial transactions of legal entities. Accountancy tends to include bookkeeping and, depending on a particilar enterprise, may also include quatitative analysis of financial data in the bookkeeping system and/or business intelligence.
