Property, Plant and Equipment

Abstract

The term “property, plant and equipment” refers to non-current tangible assets which are used in the process of generating revenues. The term “fixed assets” is also used to describe assets used for production purposes. Fixed assets also include long-lived intangible assets, for example patents, trademarks and software, but these are long-term, generally identifiable assets that do not have physical substance, or whose value is not fully indicated by their physical existence.