IAS 16 Property, Plant and Equipment

E453767

Accounting standard IFRS standard International Accounting Standard

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.

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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 ⓘ

Referenced by (2)

Full triples — surface form annotated when it differs from this entity's canonical label.

IFRS → includesStandard → IAS 16 Property, Plant and Equipment ⓘ

International Financial Reporting Standards → includesStandard → IAS 16 Property, Plant and Equipment ⓘ