IAS 16
- Accounting
Is Accumulated Depreciation An Asset Or A Liability?
What is Accumulated Depreciation? Accumulated Depreciation is the cumulative depreciation expenses recognized against a Fixed Asset. It is a contra…
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How To Depreciate Spare Parts In Property, Plant and Equipment
As per paragraphs 43 to 47 of IAS 16, we came to know How To Depreciate Spare Parts In Property,…
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What Is Residual Value Of An Asset?
The residual value of an asset cannot be determined as your own method. Para 6 of IAS 16 provided the…
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How Is Useful Life Of An Asset Determined?
Para 6 of IAS 16 states that the Useful life of an Asset is: (a)Â Â the period over which an…
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Rules For Determining The Cost Of Plant Assets
Determining the cost of Plant Assets cannot be done whimisically by any organization. There is a clear cut guidelines in…
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Alternative measurement method exist after assets are recognized
There are two alternative measurement method exist after assets are recognized? Para 29 of IAS 16 states: An entity shall…
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Recognition Criteria For Property Plant And Equipment
We cannot recognize everything as assets, there should be criteria as such. Para 7 of IAS 16 contains the following…
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