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In June 2014 the Board amended the scope of IAS 16

Approval by the Board of Agriculture: Bearer Plants (Amendments to IAS 16 and IAS 41) issued in June 2014 Agriculture: Bearer Plants was approved for issue by fourteen of the sixteen members of the International Accounting Standards Board Mr Finnegan and Ms McConnell voted against its publication

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International Accounting Standard 16 Property Plant and

1 The objective of this Standard is to prescribe the accounting treatment for property plant and equipment so that users of the financial statements can discern information about an entity’s investment in its property plant and equipment and the changes in such investment

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Property Plant and Equipment

IN5 This Standard clarifies that an entity is required to apply the principles of this Standard to items of property plant and equipment used to develop or maintain (a) biological assets and (b) mineral rights and mineral reserves such as oil naturalgas and similar non-regenerative resources

What is the basis for conclusions of IAS 16?
This Basis for Conclusions accompanies, but is not part of, IAS 16. This Basis for Conclusions summarises the International Accounting Standards Board’s considerations in reaching its conclusions on revising IAS 16 Property, Plant and Equipment in 2003. Individual Board members gave greater weight to some factors than to others.

Scope

IN5 This Standard clarifies that an entity is required to apply the principles of this Standard to items of property, plant and equipment used to develop or maintain (a) biological assets and (b) mineral rights and mineral reserves such as oil, naturalgas and similar non-regenerative resources. ifrs.skr.jp

Objective

1 The objective of this Standard is to prescribe the accounting treatment for property, plant and equipment so that users of the financial statements can discern information about an entity’s investment in its property, plant and equipment and the changes in such investment. The principal issues in accounting for property, plant and equipment are

Definitions

6 The following terms are used in this Standard with the meanings specified: Carrying amount is the amount at which an asset is recognised after deducting any accumulated depreciation and accumulated impairment losses. 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 t

Recognition

7 The cost of an item of property, plant and equipment shall be recognised as an asset if, and only if: it is probable that future economic benefits associated with the item will flow to the entity; and the cost of the item can be measured reliably. 8 Spare parts and servicing equipment are usually carried as inventory and recognised in profit or

Initial costs

11 Items of property, plant and equipment may be acquired for safety or environmental reasons. The acquisition of such property, plant and equipment, although not directly increasing the future economic benefits of any particular existing item of property, plant and equipment, may be necessary for an entity to obtain the future economic benefits f

IAS 16 Property Plant and Equipment IFRS International Financial Reporting Standards

Lecture: Revaluation Concept IAS 16 (FL005)

PDF	IFRS Foundation Other Standards have made minor consequential amendments to IAS 16. They include. IFRS 13 Fair Value Measurement (issued May 2011) Annual Improvements to IFRSs

PDF	IAS 16 Property plant and equipment 2017 - 07 (c) the recognition and measurement of exploration and evaluation assets (see IFRS 6 Exploration for and. Evaluation of Mineral Resources). (d) mineral rights

PDF	International Accounting Standard 16 Property Plant and Equipment EC staff consolidated version as of 16 September 2009. EN – EU IAS 16. FOR INFORMATION PURPOSES ONLY. 1. International Accounting Standard 16.

PDF	Leases A guide to IFRS 16 16 jun 2016 IFRS 16 is that the lessee and lessor accounting models are asymmetrical. While the IASB has retained IAS 17's finance lease/operating lease ...

PDF	IFRS 16 – An overview: The new normal for lease accounting 31 mar 2021 IFRS 16 had a significant impact on the financial statements of lessees with. 'big-ticket' leases from retailers to banks to media companies.

PDF	Ifrs-16-leases.pdf A lessee shall apply the depreciation requirements in IAS 16 Property Plant and. Equipment in depreciating the right-of-use asset

PDF	International Accounting Standard 16 Property Plant and Equipment Depreciation is the systematic allocation of the depreciable amount of an asset over its useful life. Page 2. IAS 16. 2. © IFRS Foundation. Entity?specific

PDF	AP19A: Applying IAS 16 and IAS 38 to exploration and evaluation 1 See paragraphs 3-5 of IFRS 6 Exploration for and Evaluation of Mineral Resources. Page 3. Agenda ref. 19A. Extractive Activities ?Applying IAS 16 and IAS

PDF	IFRS 16 Leases Project Summary and Feedback Statement on lease liabilities in the income statement. Lessors. IFRS 16 substantially carries forward the lessor accounting requirements in IAS 17.

PDF	Ey-devel155-ias-16-cost-of-testing-december-2019.pdf IFRS Developments. What you need to know. • At the June 2019 IASB meeting the Board agreed to finalise amendments to IAS 16

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PDF	Ind AS d AS was notified vide G S R 111(E) dated 16th February, 2015 and was amended vide Comparison with IAS 16, Property, Plant and Equipment, IFRIC 1 and IFRIC 20

PDF	IAS 16 Property, Plant and Equipment - CPA Ireland ective of IAS 16 is to prescribe in relation to PPE the accounting treatment for: The recognition of