This assignment examines the criteria for changing and selecting accounting estimates as per AASB 108 Accounting Policies, Changes in Accounting Estimates and errors. It analyzes the impact of professional judgement on accounting policies and estimates and discusses the accounting policies applied to recognize the property, equipment, and plant of the company. Recommendations are provided for improving the accounting policies and accounting estimates applied in PPE. The subject is Accounting and Financial Reporting, and the document type is an assignment.