Identify the Objective and Main Accounting Issues Covered in AASB

question 4

Essay

Identify the objective and main accounting issues covered in AASB 116: Property,Plant and Equipment.

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Definitions:

Orrorin

An early hominin genus dating back to about 6 million years ago, speculated to be among the first bipedal primates.

Ardipithecus

One of the earliest genera of bipeds that lived in eastern Africa. Ardipithecus is actually divided into two species, the older of which dates to between 5.2 and 5.8 million years ago, and the younger, A. ramidus, dated to around 4.4 million years ago.

Spinal Column

The flexible longitudinal column made of a series of bones called vertebrae, which houses the spinal cord and provides structural support to the body.

Adult Human

An individual who has reached a mature stage of growth and development, typically considered to begin after adolescence.