ASC 360 Property, Plant, and Equipment
E453781
ASC 360 Property, Plant, and Equipment is a U.S. GAAP accounting standard that provides guidance on the recognition, measurement, depreciation, and impairment of long-lived tangible assets used in operations.
All labels observed (1)
| Label | Occurrences |
|---|---|
| ASC 360 Property, Plant, and Equipment canonical | 1 |
How this entity was disambiguated
This entity first appeared as the object of triple T4576073 — resolving that mention is where its identity was fixed. The disambiguator weighed these candidate entities and picked the highlighted one (or “None”, minting a new entity). This is how homonymy is resolved: the same surface form can point to different entities.
NED1
Entity disambiguation (via context triple)
gpt-5-mini-2025-08-07
Target entity: ASC 360 Property, Plant, and Equipment Context triple: [ASC 350 Intangibles—Goodwill and Other, relatedTo, ASC 360 Property, Plant, and Equipment]
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A.
ASC 350 Intangibles—Goodwill and Other
ASC 350 Intangibles—Goodwill and Other is a U.S. GAAP accounting standard that provides guidance on the recognition, measurement, and impairment testing of goodwill and other intangible assets.
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B.
ASC 842 Leases
ASC 842 Leases is the U.S. GAAP accounting standard that overhauled lease accounting by requiring most leases to be recognized on the balance sheet as right-of-use assets and lease liabilities.
-
C.
ASC 740 Income Taxes
ASC 740 Income Taxes is the U.S. GAAP accounting standard that provides comprehensive guidance on the recognition, measurement, presentation, and disclosure of income taxes in financial statements.
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D.
ASC 718 Compensation—Stock Compensation
ASC 718 Compensation—Stock Compensation is the U.S. GAAP accounting standard that provides guidance on the recognition, measurement, and disclosure of share-based payment arrangements, such as stock options and restricted stock, granted to employees and other service providers.
-
E.
FASB Accounting Standards Codification
The FASB Accounting Standards Codification is the single, authoritative source of nongovernmental U.S. GAAP, organizing all relevant accounting standards into a comprehensive, structured framework.
- F. None of above. chosen
- G. Unsure - the case is ambiguous/there is not enough information to decide.
NED2
Entity disambiguation (via description)
gpt-5-mini-2025-08-07
Target entity: ASC 360 Property, Plant, and Equipment Target entity description: ASC 360 Property, Plant, and Equipment is a U.S. GAAP accounting standard that provides guidance on the recognition, measurement, depreciation, and impairment of long-lived tangible assets used in operations.
-
A.
ASC 350 Intangibles—Goodwill and Other
ASC 350 Intangibles—Goodwill and Other is a U.S. GAAP accounting standard that provides guidance on the recognition, measurement, and impairment testing of goodwill and other intangible assets.
-
B.
ASC 842 Leases
ASC 842 Leases is the U.S. GAAP accounting standard that overhauled lease accounting by requiring most leases to be recognized on the balance sheet as right-of-use assets and lease liabilities.
-
C.
ASC 740 Income Taxes
ASC 740 Income Taxes is the U.S. GAAP accounting standard that provides comprehensive guidance on the recognition, measurement, presentation, and disclosure of income taxes in financial statements.
-
D.
ASC 718 Compensation—Stock Compensation
ASC 718 Compensation—Stock Compensation is the U.S. GAAP accounting standard that provides guidance on the recognition, measurement, and disclosure of share-based payment arrangements, such as stock options and restricted stock, granted to employees and other service providers.
-
E.
FASB Accounting Standards Codification
The FASB Accounting Standards Codification is the single, authoritative source of nongovernmental U.S. GAAP, organizing all relevant accounting standards into a comprehensive, structured framework.
- F. None of above. chosen
Statements (53)
| Predicate | Object |
|---|---|
| instanceOf |
Accounting Standards Codification Topic
ⓘ
U.S. GAAP accounting standard ⓘ |
| allows | Various systematic and rational depreciation methods ⓘ |
| appliesTo |
Long-lived assets held and used
ⓘ
Long-lived assets to be disposed of ⓘ Not-for-profit entities ⓘ Private companies ⓘ Public companies ⓘ U.S. GAAP reporting entities ⓘ |
| codificationTopicNumber | 360 ⓘ |
| defines |
Asset group for impairment testing
ⓘ
Long-lived asset ⓘ |
| governs |
Accounting for long-lived tangible assets used in operations
ⓘ
Disposal of long-lived assets ⓘ Long-lived asset impairment ⓘ Property, plant, and equipment ⓘ |
| issuedBy | Financial Accounting Standards Board NERFINISHED ⓘ |
| partOf | FASB Accounting Standards Codification NERFINISHED ⓘ |
| providesGuidanceOn |
Amortization of long-lived assets
ⓘ
Assets held for sale ⓘ Assets to be abandoned ⓘ Assets to be distributed to owners ⓘ Assets to be exchanged ⓘ Depreciation of long-lived assets ⓘ Disposal of long-lived assets ⓘ Impairment of long-lived assets ⓘ Initial recognition of property, plant, and equipment ⓘ Measurement of property, plant, and equipment ⓘ |
| relatedTo |
Impairment guidance in ASC 350 for goodwill and other intangibles
ⓘ
Presentation guidance in ASC 205 ⓘ Revenue recognition guidance when assets are sold ⓘ |
| requires |
Capitalization of costs that are directly attributable to acquiring or constructing long-lived assets
ⓘ
Ceasing depreciation for assets classified as held for sale ⓘ Classification of long-lived assets as held for sale when certain criteria are met ⓘ Depreciation expense recognition over the asset’s useful life ⓘ Disclosure of accumulated depreciation ⓘ Disclosure of depreciation expense for the period ⓘ Disclosure of impairment losses and related information ⓘ Disclosure of major classes of depreciable assets ⓘ Grouping of assets with other assets and liabilities at the lowest level of identifiable cash flows for impairment testing ⓘ Impairment testing when events or changes in circumstances indicate that the carrying amount may not be recoverable ⓘ Long-lived assets to be recorded at cost when acquired ⓘ Measurement of assets held for sale at the lower of carrying amount or fair value less cost to sell ⓘ Measurement of impairment loss based on fair value ⓘ Presentation of assets held for sale separately in the balance sheet ⓘ Recognition of a loss for any initial or subsequent write-down of assets held for sale ⓘ Recoverability test based on undiscounted cash flows ⓘ Review of useful lives and depreciation methods when events indicate change ⓘ Systematic allocation of the cost of long-lived assets over their useful lives ⓘ |
| scopeExcludes |
Exploration and development costs of mineral resources
ⓘ
Financial instruments ⓘ Intangible assets ⓘ Inventory ⓘ |
How these facts were elicited
The pipeline generated the facts above by prompting gpt-5.1 with this entity's name + description and the instruction below.
Instruction
You are a knowledge base construction expert. Given a subject entity and a description of it, return factual statements that you know for the subject as a JSON list of dictionaries(triples), where keys must be "subject", "predicate" and "object". The number of facts may be very high, between 25 to 50 or more, for very popular subjects. For less popular subjects, the number of facts can be very low, like 5 or 10. # Requirements - If you don't know the subject at all, return an empty list. - If the subject is not a named entity, return an empty list. - Include at least one triple where predicate is "instanceOf". - Do not get too wordy. - Separate several objects into multiple triples with one object.
Input
Subject: ASC 360 Property, Plant, and Equipment Description of subject: ASC 360 Property, Plant, and Equipment is a U.S. GAAP accounting standard that provides guidance on the recognition, measurement, depreciation, and impairment of long-lived tangible assets used in operations.
Referenced by (1)
Full triples — surface form annotated when it differs from this entity's canonical label.