Accounting for Non-Current Assets in the Context of Both IAS 16 and 40

In this course we discuss the accounting for non-current assets in the context of both IAS 16 and 40. The basic tenets of the two accounting standards would be explored including an understanding of the definition of Property, Plant and Equipment (PPE), and Investment Property (IP) by delineating their characteristics in the eyes of an accountant. The account for the acquisition, maintenance and disposal or transfer of NCA under the two accounting standards would be extensively considered both with an accounting examination and corporate focus. Two somehow similar but different concepts of revaluation and fair valuation would also be considered to dissect the differences which exist between the two confusing accounting standards.

We consider the disclosure requirements of the two standards to ensure a solid understanding is gained about the accounting issues linked to the standards.

Course Key Concepts: IAS 16, IAS 40, Depreciation, Impairment, Revaluation.