Explain the following:

Understand the PPE acquisition (or investing) cycle and related significant transactions and source documents

Understand the relevant assertions/objectives about PPE balances and transactions that concern the auditors most

Understand the vouching and tracing to test existence/occurrence and completeness assertions of PPE and related transactions

Understand the internal controls over PPE and related transactions

Understand the substantive procedures to audit PPE (capital expenditures vs. revenue expenditures)