The accounting system for property, plant, and equipment adopted by an enterprise must effectively capture how the organization derives economic benefits from its assets. Given that accounting for property, plant, and equipment is a critical aspect of a public interest entity’s assets, it is characterized by a considerable degree of variability, and existing recommendations for accounting and disclosure according to international standards are often insufficient. Public interest entities are required by these standards to disclose information regarding key accounting estimates in their financial statements and may also provide any additional information that management believes would help users gain a more comprehensive understanding of property, plant, and equipment. Consequently, to enhance stakeholder trust, it is essential not only to justify and disclose key accounting estimates more thoroughly but also to present data on property, plant, and equipment that reflects management objectives and the organizational, technological, and economic characteristics unique to public interest entities. The aim of this article is to examine the current state of the accounting system and the disclosure of information related to property, plant, and equipment in the financial statements of public interest entities. The article explores selected accounting models for property, plant, and equipment and examines various grouping approaches for these assets. It also analyzes the depreciation policies and compares useful life terms with the tax code of Ukraine. Additionally, the article investigates the determination of the interest rate for future lease payments associated with right-of-use assets in lease agreements. Furthermore, it assesses the state of disclosures in financial statements regarding detailed information such as unfinished capital investments, prepayments for property, plant, and equipment, the cost of fully depreciated property, plant, and equipment still in use, the carrying amount of pledged property, plant, and equipment, profits or losses from the sale of property, plant, and equipment, losses from the write-off of property, plant, and equipment, and any revaluation surplus or deficit related to property, plant, and equipment.