After recognition, an entity chooses either the cost model or the revaluation model as its accounting policy and applies that policy to an entire class of property. The accounting standard ias 16 sets out how entities should report their investment in. International accounting standard 16 property, plant and equipment ias 16 replaces ias 16 property, plant and equipment revised in 1998, and should be applied for annual periods beginning on or after 1 january 2005. The ifrs foundations logo and the ifrs for smes logo, the iasb logo, the hexagon device, eifrs, ias, iasb, ifric, ifrs, ifrs for smes, ifrs foundation, international accounting standards, international financial reporting standards, niif and sic are registered trade marks of the ifrs foundation, further details of which are available from the ifrs.
Ias 16 property, plant and equipment basis for conclusionscurrent. Upsc books pdf free download for ias,nda,cds,ifs, upsc prelims books 2020,upsc mains books 2020 and other important material for upsc 2020. Property, plant and equipment is initially measured at its cost, subsequently measured either using a cost or revaluation model, and depreciated so that its depreciable amount is allocated on a systematic basis over its useful life. Ias 16 property, plant and equipment 2017 07 2 cost is the amount of cash or cash equivalents paid or the fair value of the other consideration given to acquire an asset at the time of its acquisition or construction or, where applicable, the amount attributed to that asset when. The decrease recognised in other comprehensive income reduces the amount accumulated in equity under the heading of revaluation surplus. If an item is revalued, the entire class of assets to which that asset belongs.
Ias 16 outlines the accounting treatment for most types of property, plant and equipment. Ias 16 property, plant and equipment acca financial accounting fa lectures the complete list of free acca financial accounting fa lectures is available. You are permitted to access, download, copy, or print out. Ias 16 property, plant and equipment acca financial. Once the construction or development is complete, the property becomes investment property and the entity is required to. The ifrs foundation provides free access through basic registration to the pdf files of the current years consolidated ifrs standards part a of the issued standardsthe red book, the conceptual framework for financial reporting and ifrs practice statements, as well as available translations of standards. Download free ebooks for ias exam, download book pdf for.
Next ias upsc prelims test series 2020 test 16 pdf with solution january 29, 2020. A library of ifrsrelated publications available for download and. Ias 16 was reissued in december 2003 and applies to annual periods. Links to summaries, analysis, history and resources for international financial reporting standards ifrs and international accounting standards ias, ifric interpretations, sic interpretations and other pronouncements issued by the international accounting standards board iasb and its related bodies. Rau ias upsc prelims test series 2020 test 32 pdf with solution january 29, 2020. Ias 16 definition property, plant and equipment ppe are tangible assets that. Download free ebooks for ias exam, download book pdf for ias exams, best books for upsc exam, book list for ias exam, download pdf books for upsc. Put together by an experienced battery of authors led by dr binay kiran.
859 1270 73 1452 783 659 999 639 1204 106 1315 919 903 1397 149 1018 97 577 1604 979 787 1637 1451 1160 1440 1187 630 615 1152 43 248 1194