Mastering Property, Plant and Equipment Accounting - IAS 16
Understanding of IAS 16: Property, Plant and Equipment
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What You Will Learn!
- Define the terms property, plant and equipment as provided by the standard IAS 16
- Describe the recognition criteria for property, plant and equipment set out by the accounting standard IAS 16
- Discuss the initial measurement of cost of property, plant and equipment in the account books
- Analyse the component basis of accounting in IAS 16
- Discuss the subsequent measurement techniques and the revaluation model under IAS 16
- Identify the different depreciation methods available for property, plant and equipment
- Classify the various disclosure requirement prescribed under IAS 16
Description
This course is designed to help learners master the principles and concepts of property, plant and equipment (PPE) accounting as defined by the International Accounting Standard 16 (IAS 16).
Through a series of practice tests, learners will gain a comprehensive understanding of the key concepts and principles of IAS 16, including the recognition and measurement of PPE, depreciation, impairment, and derecognition.
Each practice test will be comprised of a variety of question types, including multiple-choice questions, fill-in-the-blank questions, and scenario-based questions. These tests are designed to simulate the actual IAS 16 exam, and will provide learners with an opportunity to assess their knowledge and skills in PPE accounting.
In addition to the practice tests, the course will also include detailed explanations and solutions for each question, which will help learners understand the reasoning and methodology behind each answer.
Upon completing this course, learners will have a thorough understanding of IAS 16 and be well-equipped to apply this knowledge to real-life accounting scenarios. They will also be well-prepared to pass their IAS 16 exam with confidence.
This course assumes a basic knowledge of accounting principles, including financial statements, balance sheets, and income statements. Prior knowledge of PPE accounting is recommended but not required.
Who Should Attend!
- This course assumes a basic knowledge of accounting principles, including financial statements, balance sheets, and income statements. Prior knowledge of PPE accounting is recommended but not required.