Property, plant, and equipment disclosure requirements

We continue our reporting on matters for further consideration (MFC) in peer review with our initial look at the MFCs for 2021 peer reviews pertaining to the disclosure requirements related to property, plant, and equipment (PP&E). We noted an above-average amount of MFCs related to PP&E disclosures. Financial Accounting Standards Board Accounting Standards Codification (FASB ASC) 360, Property, Plant, and Equipment, provides guidance for presentation and disclosure of long-lived assets. This report goes over those requirements and provides illustrative disclosures.