IAS 16 Property, Plant and Equipment - A Closer Look

Muthupandian K S

MPRA Paper from University Library of Munich, Germany

Abstract: The International Accounting Standards Committee issued the the International Accounting Standard 16 Property, Plant and Equipment. The objective of IAS 16 is to prescribe the accounting treatment for Property, Plant and Equipment (PPE) so that users of the financial statements can discern information about an entity's investment in its PPE and the changes in such investment. The principal issues in accounting for PPE are the recognition of the assets, the determination of their carrying amounts, and the associated depreciation charges and impairment losses to be recognized in relation to them. This article presents a closer look of standard (objective, scope, definitions, classification presentation and disclosures).

Keywords: International Accounting Standard; Property, Plant and Equipment; Fair Value; Residual Value; IAS 16; IASC; IASB (search for similar items in EconPapers)
JEL-codes: M41 (search for similar items in EconPapers)
Date: 2009-03-20
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Published in The Management Accountant 4.44(2009): pp. 281-285

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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:39902

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