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IAS 16- Property Plant and Equipment’s

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Before starting this self study program, please go through the instructional document.

Overview

  • Impact of recognition as fixed asset
    21 mins
  • Property, plant and equipment should initially be measured at its cost.
    26 mins
  • Self generated assets: Inclusion in costs
    41 mins
  • Regularity of revaluation
    64 mins
  • Depreciated replacement cost
    84 mins

Course Description

International Financial Reporting Standards are changing how companies account for long-lived tangible assets on their financial statements.

IAS 16 establishes principles for recognizing property, plant and equipment as assets, measuring their carrying amounts, and measuring the depreciation charges and impairment losses to be recognized in relation to them. Property, plant and equipment are tangible items that:

  • That are held for use in the production or supply of goods or services, for rental to others, or for administrative purposes; and
  • That are expected to be used during more than one period.
  • Property, plant and equipment includes bearer plants related to agricultural activity.
  • The cost of an item of property, plant and equipment is recognized 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.

This Accounting CPE 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.

In this CPE course we will be learning practical aspects of implementing the standards and will cover the following major topics:

  • Definitions used in IAS 16
  • Recognition Requirements 
  • Disclosure requirements
  • Practical implementation of IAS 16 standard

Learning Objectives

  • To determine the initial measurement of property, plant, or equipment.
  • To identify the appropriate accounting treatment to subsequent measurement of PPE.
  • To recognize the unique disclosure and presentation requirements of IFRS for Fixed Assets

Who Should Attend?

  • Accountant
  • Accounting and audit managers/practitioners
  • Accounting Firm
  • Accounting Managers
  • Accounting Practice Owners
  • Accounts Director
  • Assistant Controllers
  • Bookkeepers & Accountants & Tax Preparers
  • Business Owner
  • CEO
  • Certified Public Accountant
  • Certified Valuation Analysts
  • CFO/Controller
  • Chief Accounting Officer
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Director of Accounting
  • Entrepreneurial CPA
  • Finance Pros
  • Staff of Accounting Firm
  • Young CPA

Testimonial

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