Long-term assets are generally divided into three broad groups: long-term marketable securities; property, plant, and equipment (PP&E); and other assets. The accounting choices for long-term marketable securities are either the same as the choices for short-term marketable securities and merely have a different classification, or are much more complex.1 Long-term marketable securities will be discussed in Accounting for Fun and Profit: Understanding Advanced Topics in Accounting. This chapter will focus on PP&E and intangible assets.
As can be seen from the information below, in its 2015 fiscal year, Apple Inc. generated $233.7 billion in revenue and $53.4 billion in profit with total assets of $290.5 billion. The total ...
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