IAS 16 Property, plant and equipment
Overview
Almost every company has tangible non-current assets that are held by an entity to use in the production or supply of goods and services, or for administrative purposes. These assets are called PP&E, that is property, plant and equipment.
IAS 16 standard specifies property, plant and equipment’s detailed accounting and disclosure requirements. How to calculate depreciation? What should and should not be included in the initial cost of PP&E? What is component-based approach? This course will walk you through the recognition, measurement and derecognition criteria as well as disclosure requirements of property, plant and equipment using practical examples and interim tests to enhance understanding.
This course will enable you to:
understand the definition of property, plant and equipment
identify the type of costs which should and should not be included in the value of property, plant and equipment at the time of initial recognition
understand the proper accounting treatment under the component-based approach
account for depreciation of property plant and equipment
understand the correct accounting treatment of subsequent expenditures
identify correct accounting journals for a disposal of property plant and equipment
review IAS 16 standard’s disclosure requirements
This e-learning course takes approximately 60 minutes to complete, and as such, it can provide 1 learning hour – 1 CPD point based on a 50-minute hour. Upon completion of this course, you can print the certificate of completion as an evidence that you undertook the course.
In case you need CPA CPE credit points, please contact us for the certificates.
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Further information:
Training hours: 60 minutes
CPD: 1.0
Language: English
- Topics: IFRS, Reporting
- Sector: Corporates
Training method: E-learning
Type: Single course
Geographic relevance: Global
This e-learning course is part of an e-learning series designed by PwC Academy Hungary which aims to provide a comprehensive overview of the application of IFRS (IAS) standards to finance and accounting experts who are already familiar with fundamental (local) accounting and reporting processes.
