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Chapter 4 — Recognizing and Measuring the Identifiable Assets Acquired and Liabilities Assumed

4.8 Property, Plant, and Equipment

4.8 Property, Plant, and Equipment

Property, plant, and equipment (PP&E) that is acquired in a business combination and classified as held and used by the acquirer should be measured at fair value. The acquiree’s accumulated depreciation is not carried over into the acquirer’s financial statements; rather, the acquirer’s financial statements should reflect only the accumulated depreciation since the acquisition date.