IAS16 BV2009 - IAS 16 International Accounting Standard 16...

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IAS 16 International Accounting Standard 16 Property, Plant and Equipment This version includes amendments resulting from IFRSs issued up to 31 December 2008. IAS 16 Property, Plant and Equipment was issued by the International Accounting Standards Committee in December 1993. It replaced IAS 16 Accounting for Property, Plant and Equipment (issued in March 1982). IAS 16 was revised in 1998 and further amended in 2000. The Standing Interpretations Committee developed three Interpretations relating to IAS 16: SIC-6 Costs of Modifying Existing Software (issued May 1998) SIC-14 Property, Plant and Equipment—Compensation for the Impairment or Loss of Items (issued December 1998) SIC-23 Property, Plant and Equipment—Major Inspection or Overhaul Costs (issued July 2000). In April 2001 the International Accounting Standards Board (IASB) resolved that all Standards and Interpretations issued under previous Constitutions continued to be applicable unless and until they were amended or withdrawn. In December 2003 the IASB issued a revised IAS 16. The revised standard also replaced SIC-6, SIC-14 and SIC-23. Since then, IAS 16 has been amended by the following IFRSs: IFRS 2 Share-based Payment (issued February 2004) IFRS 3 Business Combinations (issued March 2004) IFRS 5 Non-Current Assets Held for Sale and Discontinued Operations (issued March 2004) IFRS 6 Exploration for and Evaluation of Mineral Resources (issued December 2004) IAS 23 Borrowing Costs (as revised in March 2007) 1 IAS 1 Presentation of Financial Statements (as revised in September 2007) 2 IFRS 3 Business Combinations (as revised in January 2008) 3 Improvements to IFRSs (issued May 2008). 4 The following Interpretations refer to IAS 16: SIC-21 Income Taxes—Recovery of Revalued Non-Depreciable Assets (issued July 2000) SIC-29 Service Concession Arrangements: Disclosures (issued December 2001 and subsequently amended) SIC-32 Intangible Assets—Web Site Costs (issued March 2002 and subsequently amended) IFRIC 1 Changes in Existing Decommissioning, Restoration and Similar Liabilities (issued May 2004 and subsequently amended) IFRIC 4 Determining whether an Arrangement contains a Lease (issued December 2004) IFRIC 12 Service Concession Arrangements (issued November 2006 and subsequently amended). 1 effective date 1 January 2009 2 effective date 1 January 2009 3 effective date 1 July 2009 4 effective date 1 January 2009 © IASCF 1
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IAS 16 C ONTENTS paragraphs INTRODUCTION IN1–IN15 INTERNATIONAL ACCOUNTING STANDARD 16 PROPERTY, PLANT AND EQUIPMENT OBJECTIVE 1 SCOPE 2–5 DEFINITIONS 6 RECOGNITION 7–14 Initial costs 11 Subsequent costs 12–14 MEASUREMENT AT RECOGNITION 15–28 Elements of cost 16–22 Measurement of cost 23–28 MEASUREMENT AFTER RECOGNITION 29–66 Cost model 30 Revaluation model 31–42 Depreciation 43–62 Depreciable amount and depreciation period 50–59 Depreciation method 60–62 Impairment 63 Compensation for impairment
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IAS16 BV2009 - IAS 16 International Accounting Standard 16...

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