This fourth article in a series of theoretical essays intended to supplement the introductory financial accounting course is dedicated to the topic of property, plant, and equipment (PP&E), including both the accounting treatment and its related conceptual connections. The paper also addresses the measurement dilemmas, scandalous accounting episodes that have made the headlines, and both theoretical and empirical studies about PP&E that might be of interest to both students and professors. [For Part III, see EJ899560.]