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This course is designed for students, members, chartered accountants and public accountants working with tangible, non-current assets. It is important for any professional bookkeeper, auditor and accountant to have knowledge about the scope, recognition criteria and implications of IAS 16 Property, Plant and Equipment (PP&E). It’s a must have skill to work effectively and efficiently in any organization with PP&E.

IAS 16 establishes principles for recognizing property, plant and equipment as assets, measuring their carrying amounts, and measuring the depreciation charges and impairment losses to be recognized in relation to them.

In nutshell, this course covers the scope, basics, techniques, recognition criteria, applications, implications and disclosures of IAS 16 property, plant and equipment (PPE).

Course Key Concepts: Property plant and equipment, IAS 16, International accounting standard, IAS, PPE, Non-current assets, Tangible assets, assets, Depreciation, impairment, disposal, accounting for assets, accounting for non-current assets, revaluations, disclosures.

Learning Objectives

  • Explore the objectives, scope, key definitions, recognition criteria of IAS 16 property, plant and equipment.
  • Discover the different techniques for the measurement of tangible non-current assets.
  • Learn the key techniques involve in accounting of tangible non-current assets like depreciation, disposal, and impairments.
  • Identify the difference between cost accounting and revaluation accounting for non-current assets.
  • Explore the disclosures required provided by international accounting standard board (IASB) for tangible non-current assets.
Last updated/reviewed: May 26, 2022

Prerequisites

Course Complexity: Foundational

No advanced preparation or prerequisites are required for this course.

Education Provider Information

Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact:
For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Course Syllabus
INTRODUCTION AND OVERVIEW
  4:32Course Preview
RECOGNITION
  5:44Overview of IAS-16
  25:26Scope, Recognition, and Key terms
MEASUREMENT
  10:02Capital vs. Revenue Expenditures
  11:36Initial Measurement using Cost Model
  11:08Example Cost model for Self Cont. Assets
  34:22Five Methods of Depreciation
  19:54Subsequent Measurement
SPECIAL ISSUES
  20:34Revaluation Model
  7:44Deferred Taxation
  7:48IAS 8-Change in Accounting Estimates
  6:40IAS 36 Impairment of Non-Current Assets
  3:12Derecognition
  8:02Disclosures
CONTINUOUS PLAY
  2:56:44IAS 16 - Property, Plant, and Equipment
SUPPORTING MATERIAL
  PDFSlides: IAS 16 - Property, Plant, and Equipment
  PDFIAS 16 - Property, Plant, and Equipment Glossary/Index
  XLSXExamples and Case Study
REVIEW AND TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM