A detailed and thorough dissertation/thesis compiling information in relation to the current critique (positive and negative) of IAS16 - Property, Plant and Equipment. An extensive research document aided by references, graphs, charts and tables.
current critique positive and negative of of ias16 icb thesis
Written for
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
All documents for this subject (707)
Seller
Follow
roxyduplessis
Content preview
IAS 16: Property, Plant and Equipment
Dissertation
by
ROXANNE DU PLESSIS
(ICB Member ID:845525)
Submitted in partial fulfilment of the requirements for the National Diploma:
FINANCIAL ACCOUNTING
(SAQA ID: 20366)
14 April 2021
DECLARATION BY STUDENT:
I declare that this mini-dissertation submitted by me, is my own work, that I have referenced all
the sources that I have used and that no part was previously submitted at any tertiary institution.
Signature: Date:
,Acknowledgements
I would like to acknowledge the following people:
• ICB for being so efficient and supportive throughout all my studies and for being so
readily available to assist me in any way I needed.
• My clients who have all been so supportive towards my end goal and who have all
encouraged me through it all.
• My mother who helped me financially and emotionally to keep pushing towards my
end goal.
• My father whose continuous praise has kept me feeling motivated and focused.
• My brother who has shown me that with hard work and dedication you can achieve
even the most challenging of goals and who has guided and supported me through
the long journey of getting to where I am.
• My partner Daniel, through the stress, late nights, and copious amount of time
spent behind my computer, he has never complained once, he has only supported
me and encouraged me to keep pushing and keep aiming high.
i
,Abstract
The Property, Plant and Equipment (PPE) of a Company constitutes a large part of its assets
and must therefore be accounted for accurately in the annual financial statements. The PPE of
a company needs to initially be measured at its cost using either a cost or revaluation model,
then depreciated and accounted for on a yearly basis in the annual financial statements.
This aim of this dissertation is to summarize international critique, both negative and positive
with respect to the IAS 16: Property, Plant and Equipment and to provide international
recommendations on how the standard can be approved.
ii
, Contents
Acknowledgements i
Abstract ii
Contents iii
Chapter 1: Introduction
1.1 Background and history 1
1.1.1 IFRS vs. U.S GAAP 3
1.2 IAS 16 – Brief overview 4
1.3 Research Problem 4
1.4 Aims and objectives of this study 4
1.5 Rationale 5
Chapter 2: Literature Review
2.1 Introduction 6
2.2 Property, Plant and Equipment 6
2.2.1 Overview – IAS 16 6
2.2.2 Definitions 7
2.3 Recognition 9
2.4 Derecognition of PPE – IAS 16 10
2.5 Cost determination 10
2.5.1 Attributable costs 11
2.6 Depreciation 12
2.6.1 Cost 13
2.6.2 Useful life 14
2.6.3 Residual value 14
2.7 Repairs and replacement 15
2.8 Disclosures 15
2.8.1 Types of financial disclosures 16
Chapter 3: Research Methodology
3.1 Introduction 17
3.2 Research design 17
3.2.1 Descriptive research design 17
3.2.2 Correlational research design 17
iii
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller roxyduplessis. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $37.07. You're not tied to anything after your purchase.
