This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

ASC 360 — Property, Plant, and Equipment


The full text of ASC 360, Property, Plant, and Equipment, can be found in the FASB Accounting Standards Codification (link to the FASB's Web site; registration required). Also, the full text of the Codification and Deloitte-authored Q&As related to the Codification are available in the Deloitte Accounting Research Tool (DART) Web site (subscription required).

ASC 360 comprises two Subtopics (Overall and Real Estate Sales). Below is an overview of each Subtopic.


360-10 Overall

ASC 360-10 provides guidance on accounting for property, plant, and equipment, and the related accumulated depreciation on those assets. This Subtopic also includes guidance on the impairment or disposal of long-lived assets. ASC 360-10 notes that long-lived tangible assets include land and land improvements, buildings, machinery and equipment, and furniture and fixtures.


360-20 Real Estate Sales

ASC 360-20 notes the following:


This Subtopic provides accounting guidance for the sale of real estate other than retail land. The real estate sales guidance was placed under the Property, Plant, and Equipment Topic because it is applicable to all entities involved with real estate sales transactions. Other guidance specific to the real estate subindustries is found in the related Real Estate Topics.

The Real Estate Topics are found at ASC 970 through ASC 978.

Content from the FASB Accounting Standards Codification® included at is copyrighted by the Financial Accounting Foundation, 401 Merritt 7, PO Box 5116, Norwalk, CT 06856-5116, and is reproduced with permission.

FASB Accounting Standards Updates

    The following ASUs amended the guidance in this Topic:

    Proposed FASB Accounting Standards Updates

      No current proposed ASUs on Topic 360.

      Related resources

      See our comprehensive collection of news and publications related to property, plant, and equipment.

      International guidance

      For the IASB's guidance on this topic, see IAS 16, Property, Plant and Equipment.

      Correction list for hyphenation

      These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.