Non-Current Assets Explained
Property, Plant, and Equipment (PPE) are tangible assets you can see and touch - like Land, Buildings, Equipment, and Furniture. These must be used in operations, not held for sale. Land never depreciates, but buildings and equipment do!
Accumulated Depreciation gets subtracted from PPE. For example, if a building costs ₱1.5 million and you depreciate it over 12 months, that's ₱125,000 per month in accumulated depreciation.
Intangible Assets are valuable things you can't physically touch - like Franchises, Brand names, Patents, Trademarks, and Copyrights. These assets often represent significant value even though they're not physical.
Remember: PPE items must be "for use only" - if you're planning to sell that building, it doesn't belong in this category!