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IFRS Fixed Assets (Property, Plant & Equipment) 2 Credits

Mar 21, 2022, 09:30 AM ET

IFRS Fixed Assets (Property, Plant & Equipment) 2 Credits

  • Rating

    4.2
  • Reviewed on

    February, 2024
  • Subject Area

    Accounting

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Mar 21, 2022, 09:30 AM ET

Learning Objective

  • To recognize how to first record the acquisition of long-lived assets
  • To assess the value at which long-lived assets are presented on future financial statements
  • To identify how to work out the allocation of the cost of fixed assets over future reporting periods.
  • To write the appropriate Notes
  • To recognize the unique disclosure and presentation requirements of IFRS for Fixed Assets

Course Overview

International Financial Reporting Standards are changing how companies account for long-lived tangible assets on their financial statements. Fixed assets can be classified basically in to two categories i.e tangible & intangible, Under IFRS, IAS-16 –Property, Plant & Equipment deals with tangible fixed asset except the assets held for capital appreciation.

Fixed assets are subject to an unusually large amount of record keeping, as well as very specific accounting treatment under the IFRS accounting framework. In addition, given the large expenditures involved in fixed assets and the complexity of the accounting, you can expect a high degree of auditor interest in this area. Accountants are expected to decide how to first record the acquisition of long-lived assets, assess the value at which they are presented on future financial statements, and work out the allocation of the cost of these assets over future reporting periods. In addition IFRS allows periodic re-evaluation of long-lived assets under certain conditions, but with so many choices for assigning a value, you need to know the exact way of doing it.

This webinar will outline the step-by-step procedure for implementation and examine the many factors that companies need to carefully consider when implementing International Financial Reporting Standards for Fixed Assets.

HIGHLIGHTS OF THE WEBINAR :

  • Concepts and rules for Property, Plant, and Equipment
  • Choices of Revaluation methods under IFRS
  • Impairment of tangible long-lived assets
  • Capitalization of borrowing costs
  • Retirements and other disposals of long-lived assets
  • Nonmonetary (exchange) transactions
  • Disclosure requirements
  • Financial statement presentation.

The webinar will also discuss examples that will help to develop and understand the process and requirements of accounting for Fixed Assets under IFRS. 

On Demand Credits for All Qualifications

Nano Credits for All Qualifications

On Demand Credits for All Qualifications

Live Webinar Credits for All Qualifications

License details Credits Status
Accounting for Certified Public Accountants (CPA-US) 2 CPE Approved
Financial Accounting for Certified Internal Auditors (CIA) 2 CPE Eligible
Accounting & Auditing for Certified Management Accountants (CMA) 2 CPE Eligible
Accounting for Chartered Financial Analyst (CFA) 2 PL Eligible
Accounting for Delaware Licensed Public Accountant (DE-LPA) 2 CPE Eligible
Accounting for Certified Government Financial Manager (CGFM) 2 CPE Eligible
Accounting for Certified Fraud Examiner (CFE) 2 CPE Eligible
Accounting for Internal Audit Practitioner (IAP) 2 CPE Eligible
Financial Reporting for Certified Financial Forensics (CFF) 2 CPD Eligible
Financial accounting for Certified Valuation Analyst (CVA) 2 CPE Eligible
Accounting for Qualification in Internal Audit Leadership (QIAL) 2 CPE Eligible
Accounting for Iowa Licensed Public Accountant (IA-LPA) 2 CPE Eligible
Accounting for Maine Licensed Public Accountant (ME-LPA) 2 CPE Eligible
Financial accounting for Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA) 2 CPE Eligible
Accounting for CIPM 2 PL Eligible
Financial accounting concepts for Certified FP&A Professional (FP&A) 2 CE Eligible
License details Credits Status
Accounting for Certified Public Accountants (CPA-US) 2 CPE Approved
Financial Accounting for Certified Internal Auditors (CIA) 2 CPE Eligible
Accounting & Auditing for Certified Management Accountants (CMA) 2 CPE Eligible
Accounting for Chartered Financial Analyst (CFA) 2 PL Eligible
Accounting for Delaware Licensed Public Accountant (DE-LPA) 2 CPE Eligible
Accounting for Certified Government Financial Manager (CGFM) 2 CPE Eligible
Accounting for Certified Fraud Examiner (CFE) 2 CPE Eligible
Accounting for Internal Audit Practitioner (IAP) 2 CPE Eligible
Financial Reporting for Certified Financial Forensics (CFF) 2 CPD Eligible
Financial accounting for Certified Valuation Analyst (CVA) 2 CPE Eligible
Accounting for Qualification in Internal Audit Leadership (QIAL) 2 CPE Eligible
Accounting for Iowa Licensed Public Accountant (IA-LPA) 2 CPE Eligible
Accounting for Maine Licensed Public Accountant (ME-LPA) 2 CPE Eligible
Financial accounting for Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA) 2 CPE Eligible
Accounting for CIPM 2 PL Eligible
Financial accounting concepts for Certified FP&A Professional (FP&A) 2 CE Eligible
License details Credits Status
Accounting for Certified Public Accountants (CPA-US) 2 CPE Approved
Financial Accounting for Certified Internal Auditors (CIA) 2 CPE Eligible
Accounting & Auditing for Certified Management Accountants (CMA) 2 CPE Eligible
Accounting for Chartered Financial Analyst (CFA) 2 PL Eligible
Accounting for Delaware Licensed Public Accountant (DE-LPA) 2 CPE Eligible
Accounting for Certified Government Financial Manager (CGFM) 2 CPE Eligible
Accounting for Certified Fraud Examiner (CFE) 2 CPE Eligible
Accounting for Internal Audit Practitioner (IAP) 2 CPE Eligible
Financial Reporting for Certified Financial Forensics (CFF) 2 CPD Eligible
Financial accounting for Certified Valuation Analyst (CVA) 2 CPE Eligible
Accounting for Qualification in Internal Audit Leadership (QIAL) 2 CPE Eligible
Accounting for Iowa Licensed Public Accountant (IA-LPA) 2 CPE Eligible
Accounting for Maine Licensed Public Accountant (ME-LPA) 2 CPE Eligible
Financial accounting for Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA) 2 CPE Eligible
Accounting for CIPM 2 PL Eligible
Financial accounting concepts for Certified FP&A Professional (FP&A) 2 CE Eligible
License details Credits Status
Accounting for Certified Public Accountants (CPA-US) 2 CPE Approved
CPA in Canada 2 CPD Eligible
Certified Internal Auditors (CIA) 2 CPE Eligible
Certified Management Accountants (CMA) 2 CPE Eligible
Accredited in Business Valuation (ABV) 2 CPD Eligible
Chartered Financial Analyst (CFA) 2 PL Eligible
Certified Government Financial Manager (CGFM) 2 CPE Eligible
Certified Fraud Examiner (CFE) 2 CPE Eligible
Internal Audit Practitioner (IAP) 2 CPE Eligible
Certified Wealth Strategist (CWS) 2 CE Eligible
Certified Fiduciary and Investment Risk Specialist (CFIRS) 2 CE Eligible
Certified Financial Forensics (CFF) 2 CPD Eligible
Certified Valuation Analyst (CVA) 2 CPE Eligible
Qualification in Internal Audit Leadership (QIAL) 2 CPE Eligible
Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA) 2 CPE Eligible
Certified FP&A Professional (FP&A) 2 CE Eligible
CIPM 2 PL Eligible

Additional Information

Credits

2

Course Level

Basic

Instructional Method

QAS Self Study
Group Internet Based

Pre-requisites

None

Advance Preparation

None

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MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors.

Dive into the world of CPA CPE courses with MY-CPE. Our online courses are here to help you complete your CPA CPE credits seamlessly. We cover a wide range of topics delivered by professional subject matter experts. Forget the traditional way of learning with flexible scheduling and learn at your own pace. Join us and start your journey toward professional growth today!

About Instructor

Elevate Your Career with Michel Morley's CPE Courses at myCPE
Michel Morley

Founder, Mike Morley

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Mike Morley is a Certified Public Accountant and a recognized authority in the field of finance with more than 25 years experience in finance, including SOX and IFRS implementation.

An entertaining and informative speaker and trainer, Mike is the author of:

“IFRS Simplified” which provides a jump start for accountants and finance executives who want to quickly and easily get up to date on IFRS.

“Sarbanes-Oxley Simplified” which is an easy-to-read explanation of the requirements of the U.S. legislation that makes CEO's & CFO's personally responsible for the accuracy of their company's financial statements.

“Financial Statement Analysis Simplified” which translates the accounting language of financial statements into clear, easy-to-understand terms that anyone who needs to make well-informed financial decisions quickly will appreciate.

On Demand FAQs

What is Self Study (QAS)?

Self Study QAS (Quality Assurance Service) is a NASBA and other regulatory bodies approved program designed for Professionals to complete their Continuing Professional Education credits through self-paced, interactive courses that meet the highest standards of quality and compliance. We are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn CPE credits through self-study?

To earn CPE credits, you must complete the self-study course, pass the required assessments, and submit the necessary documentation. Credits are awarded based on the completion of course hours and successfully passing the assessments.

Are the self-study courses approved by NASBA and other regulatory bodies?

Yes, all our self-study courses are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the rigorous standards for quality and educational content set by these organizations.

What are the requirements to maintain compliance with self-study courses?

To maintain compliance, you must follow the guidelines set by NASBA and other regulatory bodies, which include completing the course within the specified timeframe, passing the assessments, and keeping accurate records of your learning activities.

How can I access my course completion certificates?

After successfully completing a self-study course and passing the assessments, you can access and download your course completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

Live Webinar FAQs

What is a Live Webinar Group Internet-Based Credit?

A Live Webinar Group Internet-Based Credit is an interactive, real-time online seminar where professionals can earn Continuing Education credits by participating in live sessions led by experts in various fields. These sessions meet the standards set by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn credits through live webinars?

To earn credits, you must attend the entire live webinar, actively participate in any polls or questions, and complete any required evaluations or assessments. Credits are awarded based on your attendance and participation in the live session.

Are the live webinars approved by NASBA and other regulatory bodies?

Yes, all our live webinars are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the high standards for quality, interactivity, and educational content set by these organizations.

What are the requirements to maintain compliance with live webinar courses?

To maintain compliance, you must adhere to the guidelines set by NASBA and other regulatory bodies, which include attending the full duration of the webinar, participating in interactive elements, and completing any post-webinar evaluations or assessments.

How can I access my webinar completion certificates?

After successfully attending a live webinar and fulfilling all participation requirements, you can access and download your completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

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