IAS 16 Property, Plant, and Equipment | Definition | Scope | Measurement Methods | De-recognition, and Disclosures
This article explains IAS 16, including its definition, scope, initial and subsequent measurement methods, de-recognition, and disclosure rules. This article explains IAS 16 for accounting students, company owners, and professionals.
The article includes practical examples and scenarios to make it easy to understand. We will cover the cost model and revaluation model and how to use them.
International Accounting Standard 16, provides guidance on how to account for property, plant, and equipment (PPE). It is a crucial accounting standard that every business that owns or uses PPE needs to understand. In this article, we will discuss the key principles of IAS 16, with practical examples to help illustrate its application.
- Understanding Property, Plant, and Equipment in Accounting
- IAS 16: Effective Dates and Application for PPE
- Objectives and Scope of IAS 16 for Property, Plant, and Equipment
- Initial Measurement of Property, Plant, and Equipment
- Subsequent Measurement Methods for PPE: Cost Model and Revaluation Model
- Subsequent Expenditure for Property, Plant, and Equipment
- Asset Exchange under IAS 16: Guidelines and Requirements
- Changing Subsequent Measurement Methods for PPE
- De-Recognition of Property, Plant, and Equipment under IAS 16
- Disclosures Required by IAS 16 for PPE
Don’t miss out on the valuable insights in this article — read it now by clicking the link! IAS 16: Property, Plant and Equipment
