This session is all about fixed / longer term assets. We’ll capitalise on our time together by establishing a strong theoretical foundation based on simplifying definitions, recognition and measurement principles. We’ll proceed to build thereon by practicing calculations and analysing the accounting entries in various scenarios, including component accounting, spare / replacement parts, revaluation surpluses and revised depreciation amounts, inter alia.
IAS 16: PPE
• Definitions and what is included in ‘costs’ that can be capitalised
• Recognition
• Measurement – Cost VS Revaluation Model, Depreciation, Component Accounting
• Disclosure requirements
Financial managers, Auditors, Bookkeepers, Financial accountants, Audit managers, Audit partners, and Engagement Quality Control Reviewers