3220037
Description
Mind Map by meyer cohn, updated more than 1 year ago
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Created by meyer cohn
about 9 years ago
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PPE summary
- DEF: Tangible items: 1. held for
use; & 2. expected to be
used in more than 1 period
- Recognition
- COST: 1. Probable future
economic benefits flow to
entity; 2. Measured reliably.
- COST: 1. Probable future
economic benefits flow to
entity; 2. Measured reliably.
- Measurement
- Initial Cost
- Elements & E.g
IAS16.16
- Elements & E.g
IAS16.16
- After recognition
- Cost model
- Cost less accumulated
depreciation &
impairment losses
- Cost less accumulated
depreciation &
impairment losses
- Revaluation model
- Fair value less accumulated
depreciation & impairment
losses (Since last valuation)
- Determine FV
(IFRS 13)
- Market / Cost /
Income
- Asset is revalued from
CA to Net Replacement
Cost ON Valuation date.
- Market / Cost /
Income
- Treatment of
Accum. deprec.
- Proportionately
restated
- Eliminated
- Proportionately
restated
- Realisation
of Revalue
surplus
- Through use: Difference between Deprec. @
revalue amount and Deprec. @ Cost (ignore
revalue). DR Revalue Surpl. (SCE) CR Ret.
Earn. (SCE)
- Through use: Difference between Deprec. @
revalue amount and Deprec. @ Cost (ignore
revalue). DR Revalue Surpl. (SCE) CR Ret.
Earn. (SCE)
- Timing
- BEGIN/yr: Deprec.
& CA at price levels
at BEGIN/yr.
- END/yr: At GRC calc NRC at
BEGIN/yr to calc. revaluation
surplus.
- BEGIN/yr: Deprec.
& CA at price levels
at BEGIN/yr.
- Fair value less accumulated
depreciation & impairment
losses (Since last valuation)
- Cost model
- Initial Cost
- Disclosure
simplistic
- Deferred tax
Media attachments
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