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This regulation prescribes accounting standards, policies, and procedures to be used to obtain uniform and reliable financial control over property, plant and equipment (PP&E) at the U.S. Department of Agriculture (USDA).

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IAS 16 outlines the accounting treatment for most types of property, plant and equipment. Property, plant and equipment is initially measured at its cost, subsequently measured either using a cost or revaluation model, and depreciated so that its depreciable amount is allocated on a systematic basis over its useful life.

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