Property, Plant, and Equipment (PPE) Assessment: Describe the company’s Property, Plant and Equipment section in the balance sheet relative to the total fixed assets of the company’s industry (use quantitative and qualitative summaries to support your description.Analyze the accounting treatment of Property, Plant and Equipment, including depreciation methods employed and any impairments recognized, and include a brief summary of the accounting standards and principles included in the decision (reference the Notes that inform your summary).Discuss the significance of Property, Plant And Equipment in the company’s operations and its impact on financial performance and reporting. Consolidated Statement of Financial Position.Expressed in Thousands of Trinidad and Tobago dollarsAs at September 30Notes2022$2021$ASSETSNon-current assetsProperty, plant and equipmentRight-of-use assets52,528,7602,123,8866769,535854,536Investment properties7297,821329,503Goodwill8168,200168,409Other Intangible assets963,41759,415Investments in associates and joint ventures10140,228129,608Trade and other receivables11822800Financial assets121,861,390923,521Deferred Income tax assets13133,890132,405Retirement benefit assets14416,840457,4116,380,9035,179,494Current assetsInventoriesTrade and other receivablesFinancial assetsStatutory deposits with regulatorsCash and cash equivalentsAssets classified as held for saleTotal assetsEQUITYCapital and reserves attributable to equity holders of the ParentShare capitalRetained earningsOther reservesNon-controlling interestsTotal equity152,063,9081,627,654111,854,3811,571,430121,044,797587,353161747,6541,227,11926,6432,034,1413779,8212,508,1946,317,6808,355,41512,698,58313,534,90918764,3446,370,513764,3445,878,71320(67,903)25,075217,066,954185,8296,668,132164,0397,252,7836,832,171 LIABILITIESNon-current liabilitiesBorrowingsLease liabilitiesTrade and other payablesDeferred Income tax liabilitiesCustomers' depositsRetirement benefit obligationsProvisions for other liabilities and chargesCurrent liabilitiesTrade and other payablesCustomers' depositsCurrent Income tax liabilitiesBorrowingsLease liabilitiesLiabilities classified as held for saleTotal liabilitiesTotal equity and liabilitiesAs at September 30Notes20222021$༢ཋ - - ཀླུ ་226241,546,406846,5182,1161,448,159919,51613224,210234,04323211,938114,0281477,71582,66415,68948,0942,924,5922,846,50424221,713,1351,485,24223334,665179,474157,432161,5702226239,822261,74276,15468,717371,699,4892,521,2083,856,2345,445,8006,702,73812,698,58313,534,909The notes on pages 109 to 189 are an integral part of these consolidated financial statements.On November 23, 2022, the Board of Directors of Massy Holdings Ltd. authorised these consolidated financial statements for Issue.

The inquiry is structured into three sections, each addressing various aspects concerning Property,…

Answered: Property, Plant, and Equipment (PPE)…

FINANCIAL ACCOUNTING

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Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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Property, Plant, and Equipment (PPE) Assessment:

Describe the company’s Property, Plant and Equipment section in the balance sheet relative to the total fixed assets of the company’s industry (use quantitative and qualitative summaries to support your description.
Analyze the accounting treatment of Property, Plant and Equipment, including depreciation methods employed and any impairments recognized, and include a brief summary of the accounting standards and principles included in the decision (reference the Notes that inform your summary).
Discuss the significance of Property, Plant And Equipment in the company’s operations and its impact on financial performance and reporting.

Consolidated Statement of Financial Position.
Expressed in Thousands of Trinidad and Tobago dollars
As at September 30
Notes
2022
$
2021
$
ASSETS
Non-current assets
Property, plant and equipment
Right-of-use assets
5
2,528,760
2,123,886
6
769,535
854,536
Investment properties
7
297,821
329,503
Goodwill
8
168,200
168,409
Other Intangible assets
9
63,417
59,415
Investments in associates and joint ventures
10
140,228
129,608
Trade and other receivables
11
822
800
Financial assets
12
1,861,390
923,521
Deferred Income tax assets
13
133,890
132,405
Retirement benefit assets
14
416,840
457,411
6,380,903
5,179,494
Current assets
Inventories
Trade and other receivables
Financial assets
Statutory deposits with regulators
Cash and cash equivalents
Assets classified as held for sale
Total assets
EQUITY
Capital and reserves attributable to equity holders of the Parent
Share capital
Retained earnings
Other reserves
Non-controlling interests
Total equity
15
2,063,908
1,627,654
11
1,854,381
1,571,430
12
1,044,797
587,353
16
17
47,654
1,227,119
26,643
2,034,141
37
79,821
2,508,194
6,317,680
8,355,415
12,698,583
13,534,909
18
764,344
6,370,513
764,344
5,878,713
20
(67,903)
25,075
21
7,066,954
185,829
6,668,132
164,039
7,252,783
6,832,171

LIABILITIES
Non-current liabilities
Borrowings
Lease liabilities
Trade and other payables
Deferred Income tax liabilities
Customers' deposits
Retirement benefit obligations
Provisions for other liabilities and charges
Current liabilities
Trade and other payables
Customers' deposits
Current Income tax liabilities
Borrowings
Lease liabilities
Liabilities classified as held for sale
Total liabilities
Total equity and liabilities
As at September 30
Notes
2022
2021
$
༢ཋ - - ཀླུ ་
22
6
24
1,546,406
846,518
2,116
1,448,159
919,516
13
224,210
234,043
23
211,938
114,028
14
77,715
82,664
15,689
48,094
2,924,592
2,846,504
24
22
1,713,135
1,485,242
23
334,665
179,474
157,432
161,570
22
26
239,822
261,742
76,154
68,717
37
1,699,489
2,521,208
3,856,234
5,445,800
6,702,738
12,698,583
13,534,909
The notes on pages 109 to 189 are an integral part of these consolidated financial statements.
On November 23, 2022, the Board of Directors of Massy Holdings Ltd. authorised these consolidated financial statements for Issue.

Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.

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