Property, Plant, and Equipment: Property, plant, and equipment are those assets which are tangible and long-term assets used in the operations of the business . Intangible assets: Intangible assets are the long term assets which are used in the operations of a business have no physical substance. Example: Patent, Trademark, Goodwill and Copyrights. To Identify : Any differences between U.S. GAAP and IFRS in the subsequent valuation of property, plant, and equipment and intangible assets.

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Chapter 11, Problem 11.20Q

To determine

Property, Plant, and Equipment:

Property, plant, and equipment are those assets which are tangible and long-term assets used in the operations of the business.

Intangible assets:

Intangible assets are the long term assets which are used in the operations of a business have no physical substance. Example: Patent, Trademark, Goodwill and Copyrights.

To Identify: Any differences between U.S. GAAP and IFRS in the subsequent valuation of property, plant, and equipment and intangible assets.

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