• Unit 8: Accounting for Property, Plant, and Equipment

    Property, plant, and equipment require the largest amount of investment for a company. This unit introduces you to the life cycle of tangible long-term assets: acquisition, depreciation, and disposal.

    This unit also includes other long-term assets such as natural resources and intangible assets. Companies such as mines and lumber companies account for the resources that are extracted from the environment. The most common intangible asset is goodwill, which is recorded when acquiring a company.

    Completing this unit should take you approximately 4 hours.

    • Upon successful completion of this unit, the student will be able to: 

      • identify, record, and depreciate property, plant, and equipment; and
      • distinguish between tangible and intangible assets.