IAS 16 Property, Plant and Equipment
E453767
IAS 16 Property, Plant and Equipment is an International Accounting Standard that prescribes the accounting treatment for tangible long-term assets, including their recognition, measurement, depreciation, and derecognition.
All labels observed (1)
| Label | Occurrences |
|---|---|
| IAS 16 Property, Plant and Equipment canonical | 2 |
How this entity was disambiguated
This entity first appeared as the object of triple T4575842 — resolving that mention is where its identity was fixed. The disambiguator weighed these candidate entities and picked the highlighted one (or “None”, minting a new entity). This is how homonymy is resolved: the same surface form can point to different entities.
NED1
Entity disambiguation (via context triple)
gpt-5-mini-2025-08-07
Target entity: IAS 16 Property, Plant and Equipment Context triple: [IFRS, includesStandard, IAS 16 Property, Plant and Equipment]
-
A.
ASC 350 Intangibles—Goodwill and Other
ASC 350 Intangibles—Goodwill and Other is a U.S. GAAP accounting standard that provides guidance on the recognition, measurement, and impairment testing of goodwill and other intangible assets.
-
B.
IFRS
IFRS (International Financial Reporting Standards) is a globally used set of accounting standards designed to bring transparency, comparability, and consistency to financial statements across different countries.
-
C.
ASC 842 Leases
ASC 842 Leases is the U.S. GAAP accounting standard that overhauled lease accounting by requiring most leases to be recognized on the balance sheet as right-of-use assets and lease liabilities.
-
D.
FASB Accounting Standards Codification
The FASB Accounting Standards Codification is the single, authoritative source of nongovernmental U.S. GAAP, organizing all relevant accounting standards into a comprehensive, structured framework.
-
E.
ASC 805 Business Combinations
ASC 805 Business Combinations is a U.S. GAAP accounting standard that provides guidance on how companies should recognize, measure, and disclose assets, liabilities, and goodwill arising from mergers and acquisitions.
- F. None of above. chosen
- G. Unsure - the case is ambiguous/there is not enough information to decide.
NED2
Entity disambiguation (via description)
gpt-5-mini-2025-08-07
Target entity: IAS 16 Property, Plant and Equipment Target entity description: IAS 16 Property, Plant and Equipment is an International Accounting Standard that prescribes the accounting treatment for tangible long-term assets, including their recognition, measurement, depreciation, and derecognition.
-
A.
ASC 350 Intangibles—Goodwill and Other
ASC 350 Intangibles—Goodwill and Other is a U.S. GAAP accounting standard that provides guidance on the recognition, measurement, and impairment testing of goodwill and other intangible assets.
-
B.
IFRS
IFRS (International Financial Reporting Standards) is a globally used set of accounting standards designed to bring transparency, comparability, and consistency to financial statements across different countries.
-
C.
ASC 842 Leases
ASC 842 Leases is the U.S. GAAP accounting standard that overhauled lease accounting by requiring most leases to be recognized on the balance sheet as right-of-use assets and lease liabilities.
-
D.
FASB Accounting Standards Codification
The FASB Accounting Standards Codification is the single, authoritative source of nongovernmental U.S. GAAP, organizing all relevant accounting standards into a comprehensive, structured framework.
-
E.
ASC 805 Business Combinations
ASC 805 Business Combinations is a U.S. GAAP accounting standard that provides guidance on how companies should recognize, measure, and disclose assets, liabilities, and goodwill arising from mergers and acquisitions.
- F. None of above. chosen
Statements (50)
| Predicate | Object |
|---|---|
| instanceOf |
Accounting standard
ⓘ
IFRS standard ⓘ International Accounting Standard ⓘ |
| abbreviation | IAS 16 NERFINISHED ⓘ |
| allows |
cost model for subsequent measurement
ⓘ
revaluation model for subsequent measurement ⓘ |
| appliesTo |
equipment
ⓘ
plant ⓘ property ⓘ tangible long-term assets ⓘ |
| covers |
depreciation of property, plant and equipment
ⓘ
derecognition of property, plant and equipment ⓘ initial measurement of property, plant and equipment ⓘ recognition of property, plant and equipment ⓘ subsequent measurement of property, plant and equipment ⓘ |
| defines |
depreciable amount
ⓘ
residual value ⓘ useful life ⓘ |
| excludes |
biological assets related to agricultural activity
ⓘ
exploration and evaluation assets ⓘ mineral rights and mineral reserves ⓘ |
| governs | accounting for property, plant and equipment ⓘ |
| hasFullName | International Accounting Standard 16 Property, Plant and Equipment NERFINISHED ⓘ |
| includes | guidance on componentization of assets ⓘ |
| issuedBy |
IASB
NERFINISHED
ⓘ
International Accounting Standards Board NERFINISHED ⓘ |
| objective | to prescribe the accounting treatment for property, plant and equipment ⓘ |
| partOf | International Financial Reporting Standards NERFINISHED ⓘ |
| permits | different depreciation methods ⓘ |
| recognitionCriterion |
cost of the item can be measured reliably
ⓘ
probable future economic benefits will flow to the entity ⓘ |
| relatedTo |
IAS 23 Borrowing Costs
NERFINISHED
ⓘ
IAS 36 Impairment of Assets NERFINISHED ⓘ IFRS 5 Non-current Assets Held for Sale and Discontinued Operations NERFINISHED ⓘ |
| requires |
capitalization of costs of dismantling and removing the item and restoring the site when criteria are met
ⓘ
capitalization of directly attributable costs ⓘ derecognition on disposal of an asset ⓘ derecognition when no future economic benefits are expected from use or disposal ⓘ disclosure of depreciation methods used ⓘ disclosure of measurement bases used for determining gross carrying amount ⓘ disclosure of useful lives or depreciation rates ⓘ initial measurement at cost ⓘ recognition of gain or loss on derecognition in profit or loss ⓘ recognition of major inspections as part of the carrying amount when criteria are met ⓘ reconciliation of the carrying amount at the beginning and end of the period ⓘ review of depreciation method at least at each financial year-end ⓘ review of residual value at least at each financial year-end ⓘ review of useful life at least at each financial year-end ⓘ significant parts of an item of property, plant and equipment to be depreciated separately ⓘ systematic allocation of depreciable amount over useful life ⓘ |
How these facts were elicited
The pipeline generated the facts above by prompting gpt-5.1 with this entity's name + description and the instruction below.
Instruction
You are a knowledge base construction expert. Given a subject entity and a description of it, return factual statements that you know for the subject as a JSON list of dictionaries(triples), where keys must be "subject", "predicate" and "object". The number of facts may be very high, between 25 to 50 or more, for very popular subjects. For less popular subjects, the number of facts can be very low, like 5 or 10. # Requirements - If you don't know the subject at all, return an empty list. - If the subject is not a named entity, return an empty list. - Include at least one triple where predicate is "instanceOf". - Do not get too wordy. - Separate several objects into multiple triples with one object.
Input
Subject: IAS 16 Property, Plant and Equipment Description of subject: IAS 16 Property, Plant and Equipment is an International Accounting Standard that prescribes the accounting treatment for tangible long-term assets, including their recognition, measurement, depreciation, and derecognition.
Referenced by (2)
Full triples — surface form annotated when it differs from this entity's canonical label.
International Financial Reporting Standards
→
includesStandard
→
IAS 16 Property, Plant and Equipment
ⓘ