IAS 16 Property, Plant and Equipment: Summary - applies in 2024

Visit our website for great discussion with many practical advices on this standard.
This is just the short executive summary of IAS 16 and does NOT replace the full standard - you can see the full text on IFRS Foundation's website.
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#IFRS #IAS16 #ifrsaccounting

[justaguy]

Why do i learn better on youtube than physical classes! Thank you!

[niyanthritharamesh]

I have been following the ifrs website of yours for articles and YouTube for all the short clips on ias and ifrs.. And the articles, I must say they are sooo engaging... Where most of the articles I have come across gets too technical... You have made it so simple and interesting... Thanks a lot Silvia :)

[Eona_Catacutan]

PPE has always been a complicated topic for me. Thank you for explaining it in a simple manner, especially its measurement, recognition, and depreciation. It assisted me well in accomplishing our task of analyzing our chosen company’s financial statements based on PAS/IASs.

[fahadalsalamah]

Hi Silvia,
Honesty, i haven't yet heard the video, but it will definitely be wonderful as usual at all the following levels:
1. On the level of ease of language used.
2. On the level of deep understanding of IFRS/IAS.
3. On the level of great ability to communicate the idea and information required to the listener.
Thank you so much Silvia🌹
Regards,
Fahad

[augustinzouzou]

Silvia, honestly you master this paper than anyone else i know, be blessed

[arnielizaacuna]

This executive summary of IAS 16 helped me recall what I learned in our class discussion when I was preparing for my midterms.

[woubeshetshawell]

I appreciate you that you are a wonderful instructor due to the fact that your methodology is simple and understandable.

[kailaaquino]

Done rewatching I now have a clearer understanding of PPE thank you so much!

[CatherineNicoleManalastas]

Thank you for this informative video, ma'am! I gained a deeper understanding of PAS 16. This is such a nice supplemental material in addition to what we have discussed in class during our midterms.

[jelainesoriano]

Thank you so much, Ma'am Silvia for this very informative video. I found it super easy-to-understand. God bless!

[saxvgs]

Can you please explain which of the below accounting treatments is correct:

A building takes 2 years to complete with the following details.

-Site preparation began at 01/02/2020 and completed at 31/04/2020, cost and invoiced 100, 000.
-Building frame construction began at 01/06/2020 and completed at 30/11/2020, cost and invoiced 3000, 000.
-Floor construction began at 15/01/2021 and completed at 31/05/2021, cost and invoiced 500, 000.
-Full construction and building available for use at 31/09/2021, cost and invoiced 350, 000.

1) Accounting treatment
The building should be recognized as a non current asset in Balance Sheet at 31/12/2021 for the cost of 3950, 000
At 31/09/2021
Dr Non Current Asset 3950, 000
Cr Bank 3950, 000

OR

2) Accounting treatment
Recognize the initial component of the non current asset in the Balance Sheet of the year ended 31/12/2020 for the cost of 3100, 000:
At 31/04/2020
Dr Non Current Asset 100, 000
Cr Bank 100, 000
At 30/11/2020
Dr Non Current Asset 3000, 000
Cr Bank 3000, 000
Recognize the remaining component of the non current asset in the Balance Sheet of the year ended 31/12/2021 for the cost of 850, 000:
At 31/05/2021
Dr Non Current Asset 500, 000
Cr Bank 100, 000
At 30/09/2021
Dr Non Current Asset 350, 000
Cr Bank 350, 000

[giseleteghen]

Thanks so much for this I jus discovered ur channel and am happy to be hear pls can u do ias 19 and IFRS 2

[idoculta]

Muito legal ver uma brasileira com um canal de accounts, em ingles. obrigad, muito mais facil de entender do que os sotaques indianos que eu tenho encontrado ahah valeuuu, excelente didatica tambem,

[vincejustinejavier]

The discussion of the standard was simplified. I really understood the topic. Thank you!

[मनोरन्जनअधिकारी]

Hy Silvia, First of all, huge thanks to you for such wonderful summary videos. It helps me a lot in my CA Studies.

I have a short query and that is How can we treat the waiver or discounting of the Cost of assets by our vendor while paying the amount on later dates? Shall we have to treat such discounts as our expenses or it shall be reduced from the cost of Assets itself as subsequent recognition of assets?

Waiting for your response

Thank You 🙂

[meytithveasna]

I have a question to ask you about purchasing stuffs from a vendor including external hard disk .the vendor free an external hard disk .how we record that gift?thanks

[rosemarievillapa]

once again, thank you for this video lecture!

[aaroacademy]

Thanks, very informative video it was really helpful

[dinolucas]

Hello, i need some help on classify property plant and equipment for determining the cost. Could you please help me?

[meharhasnatmahmud]

What's the difference between selling and disposal ?I guess selling involves inventories and disposal involves PPE which doesn't contain Future Ecnomic benefits