IAS 16 property,plant and equipment

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IAS 16 property,plant and equipment

• 1.Recognition
  • (1)Definition -own occupied and held for own use(held future use) -expected to be used for more than one year
  • (2)Probable future economic benefits
  • (3)Measured reliably
• 2.Initial measurement(初始计量）
  • cost（Historical cost)=cost of purchase +Directly attributable cost
    • cost of purchase(购买成本） 原则：includes all cost necessary to bring the asset to working condition for its intended use.
      • (1)自建资产 -Land -Material and labour -Specific intangible asset
      • (2)外购资产 -purchase price -Import duty -Non-refundable purchase tax (减去trade discount)
      • 不包括： -Unused material -insurance -maintenance -administrative expense -staff skill
    • Directly attributable cost (直接成本）
      • -site preparation -construction overhead -carriage inwards 运费 -headling costs 人工搬运费 -installation cost -testing cost -professional cost (architect and surveyor)
• 3.Depreciation (Depn.) 折旧
  • 实质：allocate cost of PPE over expected useful life (matching rule ) annual depn. *月份/12 （pro-rata)按比例的
    • 1.straight line Depn.=cost-residual value/useful life or Depn.=Opening NBV/remaining useful life
    • 2.Deducing balance Depn.=opening NBV*X%
    • 分录： Dr. Depn.(expense) X Cr.Accumulated depn X
• 4.subsequent measurement
  • 成本法 cost model cost X Less:Accum Depn. (X) NBV X
  • 重估法 Revaluation model NBV X Add:Revaluation gain X Less:Revaluation loss (X) Fair value(FV) X Less:Depn. (X) NBV X
    • (1)重估增值 NBV 100 +Revaluation gain 50---OCI (无法变现） FV 150 & 先减后增 NBV 100 -Revaluation loss 50---SPL FV(year 1) 50 +Reversal of previous revaluation loss 50---SPL回转 +Revaluation gain 20----OCI/RS FV(year 2) 120
    • (2)重估减值
    • 注意： 1.重估法条件 -当FV不等于NBV -Entire class PPE revalued together(consistency) 2.重估记账 -重估增值 revaluation gain-OCI/RS -重估减值 revaluation loss -SPL 3.重估后折旧用FV计算 Depn.=FV/remaining useful life 4.多余折旧转移 Transfer excess depn. from RS to Retained earning(RE) Dr.Revaluation surplus Cr.Retained earnings Excess depn.=Revaluation gain/剩余寿命
  • NBV==Carrying amount(SOFP)
• 5.Subsequent expenditure 后续支出
  • Capital expenditure 1.Improve the asset beyond its original condition(upgrade cost) 2.Complex asset's major overhaul(safety check)复杂资产 大成本检修 复杂资产：Asset that has two or more significant parts (different useful life)--拆分折旧 大成本检修：Capitalised and depn. over the period to the Next overhaul
  • Revenue expenditure Maintain the original condition (repair cost, repaint cost)
• 6.Disposal
  • SPL Profit or loss on disposal变卖盈亏 =Proceeds(售价)-NBV Dr.Cash Dr./Cr. profit or loss on disposal Cr. PPE 特殊： 1.抵让交易 trade-in transaction(part exchange 部分交换） Proceeds=agreed value 2.Abandon(Replace) Proceeeds=0 (Expense)Loss on disposal =NBV