For the purposes of recognising a non-current property, plant and equipment asset the acquisition date is determined as the date:

Question

Quizplus · Accepted Answer

The date on which the acquirer obtains control of the asset is the most appropriate date to recognise a non-current property, plant, and equipment asset. This is because control is the main criterion for recognising an asset on the balance sheet, and it represents the point at which the asset will start generating future economic benefits for the company. The other dates (A, B, and C) may be relevant to the acquisition process, but they do not necessarily signify that the company has obtained control over the asset.

For the Purposes of Recognising a Non-Current Property, Plant and Equipment