Farley And Partners

Assets 1: Property, Plant and Equipment, Investment Property, Intangible Assets and Inventories

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
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