IAS 16 Property Plant and Equipment

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Property, plant and equipment IAS 16

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Presentation transcript:

IAS 16 Property Plant and Equipment Fac 3702 © beanBox.wordpress.com

IAS 16 Property Plant and Equipment MEASUREMENT AFTER RECOGNITION Cost Model or Revaluation Model © beanBox.wordpress.com

IAS 16 Property Plant and Equipment 1. How do PPE become part of the Income statement? Depreciation 2. Is there a portion of the asset not depreciable? Residual Value © beanBox.wordpress.com

IAS 16 Property Plant and Equipment What is the useful life of Land and Buildings in General ? Land and Buildings are two separate assets and thus their useful lives are separate. Buildings may have a limited useful life. © beanBox.wordpress.com

IAS 16 Property Plant and Equipment © beanBox.wordpress.com

IAS 16 Property Plant and Equipment © beanBox.wordpress.com

IAS 16 Property Plant and Equipment Review carrying amounts at B/S date if there are indicators of impairment Impairment occurs if recoverable amount is less than carrying amount Prior Impairment losses may be reversed Details of impairment dealt with in IAS 36 Impairment of assets. © beanBox.wordpress.com

IAS 16 Property Plant and Equipment © beanBox.wordpress.com

IAS 16 Property Plant and Equipment Revaluation – Considerations © beanBox.wordpress.com

IAS 16 Property Plant and Equipment Revaluation Methods 1 Applies if fair value of PP&E can be measured reliably 2 Carry at ‘revalued amount’ which means… 3 Revaluation to be made with sufficient regularity. Why? © beanBox.wordpress.com

IAS 16 Property Plant and Equipment Depreciation © beanBox.wordpress.com

IAS 16 Property Plant and Equipment © beanBox.wordpress.com