tailieunhanh - Lecture IFRS primer international GAAP basics: Chapter 10 - Wiecek, Young

Chapter 10 - Property, plant and equipment: IAS 16. The main contents of the chapter consist of mains parts: Related standards, IAS 16, current GAAP comparisons, IFRS financial statement examples, looking ahead, end-of-chapter practice. | Lecture IFRS primer international GAAP basics Chapter 10 - Wiecek Young Property Plant and Equipment IAS 16 Wiecek and Young IFRS Primer Chapter 10 Property Plant and Equipment Related standards IAS 16 Current GAAP comparisons IFRS financial statement examples Looking ahead End-of-chapter practice 2 Related Standards FAS 153 Exchanges of non-monetary assets APB 29 Accounting for non-monetary transactions FAS 146 Accounting for costs associated with exit or disposal activities FAS 144 Accounting for the impairment or disposal of long-lived assets FAS 34 Capitalization of interest cost 3 Related Standards IAS 17 Leases IAS 20 Accounting for government grants and disclosure of government assistance IAS 23 Borrowing costs IAS 36 Impairment of assets IAS 40 Investment property IFRS 2 Share-based payment IFRS 5 Non-current assets held for sale and discontinued operations 4 IAS 16 - Overview Objective and scope Recognition Measurement at recognition Measurement after recognition CM RM Derecognition Disclosure 5 IAS 16 - Objective and Scope IAS 16 objective standards for the recognition and derecognition of PP amp E assets measurement at and after acquisition and disclosures Scoped out assets held for sale agricultural biological assets non-renewable natural resource rights and reserves Includes investment property under construction and when ready if cost model applied 6 IAS 16 - Objective and Scope Property plant and equipment IAS Tangible items that a are held for use in the production or supply of goods or services for rental to others or for administrative purposes and b are expected to be used during more than one period 7 IAS 16 - Recognition Costs are recognized as PP amp E only if 1. probable that future economic benefits associated with the item will flow to the entity and 2. the cost can be measured reliably. Applies to costs at acquisition and after acquisition. 8 IAS 16 - Recognition The government requires HTY Ltd. to affix new pollution reduction .