IFRS In-Depth: Property, Plant & Equipment ON DEMAND

Overview

This course presents an overview of IAS 16 Property, Plant, and Equipment, the accounting standard for classifying and measuring property, plant, and equipment (also known as `fixed assets’) in IFRS financial statements. The course also discusses the IASB’s and FASB’s efforts towards achieving convergence in fixed assets reporting.

Highlights

Acquisition of Property, Plant, and Equipment. Cost after Acquisition. Depreciation Factors. Depreciation Methods. Impairments. Revaluations. Disposal of Property, Plant, and Equipment. Disclosures. IFRS and U.S. GAAP Convergence.

Prerequisites

None.

Designed For

CPAs, CFOs, controllers, financial professionals, and auditors.

Objectives

Explain the proper accounting treatment for acquisitions of property, plant, and equipment (and other associated costs) under IFRS. Calculate depreciation using the methods permitted under IAS 16. Describe the process for determining whether or not a long-lived asset is impaired under IAS 36. Distinguish between the cost' and revaluation’ accounting models (as described in IAS 16). Describe the similarities and differences between IFRS and U. S. GAAP in the area of property, plant, and equipment.

Preparation

None.

Notice

None.