Video: Introduction to Property, Plant and Equipment

In this lesson, Nick Palazzolo, CPA, delves into the nuances of Property, Plant, and Equipment (PPE), including land, which play a crucial role in business operations as long-term fixed assets, distinct from inventory held for resale. Explaining the nature of PPE, Nick highlights that these tangible assets, barring land, diminish in value over time through depreciation, a concept that will be a focal point of the discussion. While retailoring the perception that land never depreciates, he humorously reminds viewers of its steadfast value barring extreme circumstances, but also soberly notes potential for impairment in less common scenarios. This introduction sets the foundation for understanding how PPE is accounted for and managed financially within a business.