Ias 16 ppe - Study guides, Class notes & Summaries

IAS 16 PPE EXAM QUESTIONS & ANSWERS 2024/2025 what is PPE - ANSWERStangible assets that are - held for use to produce goods/services, for rental, or for admin purposes - are expected to be used during more than one period when is the cost of PPE recognized - ANSWERS- probable that future economic benefits associated with the item will flow to the entity - the cost of the item can be measured reliably what is the difference between PPE and inventory - ANSWERS- Are held for use to p...

Providing a summary of the examinable subjects of International Financial Reporting Standards (excluding Inventory and Consolidation), but includes: - Revenue recognition (IFRS 15) - PPE (IAS 16) - Intangible assets (IAS 38) - Impairment (IAS 36) - Business combinations (IFRS 3) - Income tax (IAS 12) - Share-based payments (IFRS 2) - Financial Instruments (IFRS 9)

FAC2601 ASSIGNMENT 3 SEMESTER 2 2024 Answer the following multiple-choice questions. Indicate your choice by selecting only one option from the four options given for each question answered. Round off all calculations to the nearest Rand or 2 decimal %, where applicable. Use the following information to answer questions 20: Byde Ltd acquired 3,500 shares in Nikola Ltd at a price of R9.00 per share on 1 July 2023. The shares are part of a long-term investment portfolio. Transaction cos...

Summary notes for AAT Level 4's exam: Financial Statements for Limited Companies (FSLC) Clear and condensed notes covering each aspect of the exam which were used to pass first time.

Key topics of the course Financial Accounting and Reporting (324059-M-6), Master Accountancy, Tilburg University. Easy to study summary that contains all important points from the course, clearly divided by IFRS and IAS topics like IFRS 16 Leases, IAS 36 Impairment of assets etc.

How is revenue treated that is receivable 2 years after the goods are delivered? The amount of revenue initially recognised is the amount receivable discounted to present value. Interst is then applied to the receivable as interest income over 2 years IFRS 9 requires investments in equity instruments to be measured and accounted for ( in the absence of any election at initial recognition)? Fair value with changes going through profit or loss What are acceptable methods of accounting for a g...

Notes of a Third year student studying Bachelors of Accounting at the University of the Free State. With this notes that i have compiled, i was able to proudly say that i received a distinction in Financial Accounting by using this notes. If you are struggling with Financial Accounting use this notes, and you could also get you distinction. This notes include notes about *IAS 16 - PPE*.

What if not followed IAS or IFRS? Not True and Fair = UNETHICAL Why PRINCIPLES not RULES? Principles harder to circumvent Why have a FRAMEWORK? Provides guidances for standards setters Gives guidance where no standards exist Helps all parties with intrerpretation 2 x Useful qualities of financial information RELEVANCE = Influences Decisions FAITHFUL REPRESENTATION = Complete, Neutral, No Errors What does RELEVANCE offer? PREDICTIVE VALUE CONFIRMATORY VALUE 4 X Qualities of FAITHFU...

A summary of the important definitions in IAS 16, the initial and subsequent measurement of property, plant and equipment on the cost model and the revaluation model, the elements of cost, methods of depreciation, impairment, derecognition, presentation and disclosure of PPE and how to account for changes in the fair value of PPE.

IAS 16 PPE IAS 16 does not cover biological assets, held for sale, mineral rights and reserves PPE are tangible items held for use in the production or supply of goods and services expected to be used for more than 1 year PPE when: -probable future economic benefits that will flow to entity -cost can be measured reliably spare parts/ replacement parts recognized in inventory and P&L as consumed major parts part of PPE if expected to be used more than 1 year ...