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Ias-16 Property Plant and Equipment.

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IAS-16 Property Plant and equipment[pic 1]

Muhammad Hamid Javed Assignment no. 05

Advance Financial Accounting Programmed: MS (A&F) Session: 2018-2019 Department of Commerce

Submitted to: Sir Tauseef

IAS-16[pic 2]

Property Plant and equipment

1- What is PPT?

2- Recognition Criteria When to record in B/S?[pic 3]

3- Initial Recognition

4- Subsequent expenditure

What’s treatments & whether it is capitalized or expenditure?[pic 4]

5- Subsequent Recognition

After initial period how treatment has to be done in future time period?

1. Tangible Asset:[pic 5]

•        Held for sale production

•        Held for sale of good & services

•        Rental purpose other than Property i.e. land & building

If we purchase or hire it on lease then it is fixed Asset        *Any Asset can be owned or lease as well & vice-versa if it is given to other for using then it is called

Investment PPT

Administrative Purpose

2. It should be use for more than 1 accounting period

3- Bearer Plant (Treatment under IAS-16):        1- Apple Tree Living plant                                                                                                                         3-sugarcane Held for use in production of agriculture producer

Expected to be bear produce in more than one accounting period

There’s remote possibility that it’ll be sold as agricultural produce except for scrap value

Unit of master:[pic 6]

It can be measure as individual item or aggregate it

IAS-16[pic 7]

Property Plant and equipment

Recognition Criteria

Meet required defiant ion in market

Initial Recognition:Initial recognition

Purchase cost+ import duty+ non-refundable purchase after deducting trade discount and rebate

Any cost directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

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