A cutting insert configured to couple to a pipe machining apparatus is provided and includes a first cutting edge and a second cutting edge opposite the first cutting edge. A pipe cutting assembly is provided and includes a first base, a second base separate from the first base, and a cutting insert interchangeably couplable to the first base and the second base to perform a first cut with the cutting insert coupled to the first base and a second cut with the cutting insert coupled to the second base. A pipe machining apparatus is provided and includes a tool support, a first cutting tool base and a second cutting tool base interchangeably coupled to the tool support, and a cutting insert interchangeably coupled to the first cutting tool base and the second cutting tool base.