Provides an integrated discussion on the main issues involved in accounting for the most common non-financial asset types, including measurement approaches based on cost and fair value and depreciation.
IAS 16: Property, Plant and Equipment
- Recognition and initial measurement, including expenditure items that must be capitalised
- Dismantling, removal and restoration costs
- Cost model and revaluation model, including the treatment of gains and losses on revaluation
- Depreciation
- Derecognition, presentation and disclosure
IAS 40: Investment Property
- Recognition, including special cases, for example combined use
- Initial measurement
- Subsequent measurement, including the cost and fair value models
- Derecognition, transfers and disclosure
IAS 38: Intangible Assets
- Recognition
- Initial measurement
- Subsequent measurement including cost and revaluation models
- Useful life, including finite and indefinite useful life intangibles
- Derecognition and disclosure
- Amortisation
IAS 2: Inventories
- Recognition
- Initial measurement of acquired and manufactured inventories
- Subsequent measurement, including cost formulae and write down to net realisable value
