Ias 16 should be read in the context of its objective and the basis for conclusions, the preface to international financial reporting standards and the. Ias 38 prescribes the recognition, measurement and disclosures applicable to intangible assets which are not dealt with specifically in another standard. Review of analytical approaches for the identification of nonintentionally added substances in paper and board food contact materials. Intangible assets that are relevant in considering the accounting for. Cima f1 ias 16 property, plant and equipment initial recognition free resources for acca and cima students free acca and cima on line courses free acca, cima, fia notes, lectures, tests and forums. In5 ias 41 does not establish any new principles for land related to agricultural activity. International accounting standard 38, dealing with intangible assets. Ias 38 outlines the accounting requirements for intangible assets, which are nonmonetary assets which are without physical substance and identifiable either being separable or arising from contractual or other legal rights.
March 2017 this communication contains a general overview of the topic and is current as of march 31, 2017 the application of the principles addressed will depend upon the particular facts and circumstances of each individual case. The update is published on a regular basis, with news about adoptions, resources, and implementation guidance. An intangible asset is an identifiable non monetary asset without physical substance. E50 was modified and reexposed as exposure draft e59, intangible assets. More specifically, the iasb proposes to prohibit a depreciation or amortisation method that uses revenue generated. First you need to understand what these things are. Ias 38 addresses intangible assets acquired by way of a government grant. As part of the process of developing a core set of ipsass, the psc has recognized the need for an effective impairment test for all assets held by public sector entities. For the requirements reference must be made to international financial reporting standards. Ias 16 revaluation model 2015 2 p a g e depreciation under the revaluation model depreciation under the revaluation model is treated in the same manner as the cost method. Ias 16 property, plant and equipment the board has not undertaken any specific implementation support activities relating to this standard. This standard shall be applied in accounting for revenue arising from the following transactions and events. Worldwide application of ifrs 3, ias 38 and ias 36, related.
Ias 41 agriculture 2017 07 2 costs to sell are the incremental costs directly attributable to the disposal of an asset, excluding finance costs and income taxes. Revenue from nonexchange transactions taxes and transfers. Find articles, books and online resources providing quick links to the standard, summaries, guidance and news of recent developments. The reason why it was necessary to issue an adhoc standard had been determined by certain activities regarding the agricultural activity that were excluded from the scope of other international accounting standards e. Ias 38 sets out the criteria for recognising and measuring intangible assets and requires disclosures about them. Cima f1 ias 16 property, plant and equipment initial. Ias 38 requires, intangible assets which arises as a result of government grant are recognized either at fair value or nominal cost. The ifrs for smes update is a staff update about news relating to the international financial reporting standard for small and mediumsized entities ifrs for smes standard.
Technical summary this extract has been prepared by iasc foundation staff and has not been approved by the iasb. If youd like to be alerted whenever we produce a new. But, then i received so many emails from you, my dear readers, asking me to cover more. Pdf identification of non volatile migrant compounds and nias in. This edition of ifrs in focus outlines the recent amendments to ias 16 property. Ifrs in focus iasb amends ias 16 and ias 38 to clarify acceptable. Adeel september 5, 2016 august 24, 2016 no comments on summary notes. A group of biological assets is an aggregation of similar living animals or plants. International accounting standard 16 property, plant and equipment ias 16 replaces ias 16 property, plant and equipment revised in 1998, and should be applied for annual periods beginning on or after 1 january 2005.
Ias 38 outlines the accounting requirements for intangible assets, which are. International accounting standard 16 property, plant and equipment ias 16 is set out in paragraphs 183 and the appendix. Amortisation amendments to ias 16 and ias 38, effective for annual periods. Ifric customer loyalty programmes ifric 15 agreements for the construction of real estate sic31 revenue barter transactions involving advertising services. Determinants of compliance levels with disclosures mandated by ifrs 3, ias 38 and ias. The depreciable amount cost less residual value should be allocated on a systematic basis over the assets useful life ias 16. Ias 41 was approved in december 2000 and entered into force for the financial year 2003. The principal issues are the recognition of assets, the determination of their carrying amounts, and the depreciation charges and impairment losses to be recognized in relation to them. Ias 16 property, plant and equipment the objective of this standard is to prescribe the accounting treatment for property.
Basic user guide for renmin ribao peoples daily 201116. In order for an intangible asset to be recognised in the financial statements it must. The application of the principles addressed will depend upon the particular facts and circumstances of each individual case. The ifrs for smes update is a staff update about news relating to the international financial reporting standard for small and mediumsized entities ifrs for smes standard the update is published on a regular basis, with news about adoptions, resources, and implementation guidance if youd like to be alerted whenever we produce a new update or indeed whenever we produce any news about. Visit the ias customer portal, where new customers can obtain a free. Anthroponomastics on nias ancient proper names contains some worthy cultural accounts about the tribe. Property, plant and equipment is initially measured at its cost, subsequently measured either using a cost or revaluation model, and depreciated so that its depreciable amount is allocated on a systematic basis over its useful life. Iasb publishes amendments to ias 16 property, plant and equipment and ias 38 intangible assets project update released on 12 may 2014 announcing a clarification of acceptable methods of depreciation and amortisation. New zealand equivalent to international accounting.
Worldwide application of ifrs 3, ias 36 and ias 38, 3 related disclosures, and determinants of noncompliance contents executive summary 5 1. On march 2930, 2017 csi will be involved in the conference on nias and mineral oils in food contact materials. Intangible assets meeting the relevant recognition criteria are initially measured at cost, subsequently measured at cost or using the revaluation model, and amortised. Revenue should be measured at the fair value of the consideration received receivable. International accounting standards board isab prescribes the international accounting standard 16 ias 16 that deals with accounting for property plants and equipment. Revenue is recognised when it is probable that future economic benefits will flow to the entity and these benefits can be measured reliably. Ias 38 revised and coordinated with ias 16 property, plant and equipment. Additional material is restricted to those with nzassigned ip addresses only.
An item is identifiable if it is separable or arises from contractual or other legal rights. Ifric customer loyalty programmes ifric 15 agreements for the construction of real estate sic31 revenue barter transactions involving advertising services effective date periods beginning on or after 1 january 1995 specific quantitative disclosure requirements. The international accreditation service mission is to provide the highest quality accreditation services for all concerned with public safety and sustainability through the principle of one test, one inspection, one certification worldwide. Ias 16 was reissued in december 2003 and applies to annual periods. Download pdf, 399kb ias 38 intangible assets ifrs, ifrs summary notes, summary notes. Ias 16 property, plant and equipment outlines the accounting treatment for most types of property, plant and equipment. An asset is identifiable when it is separable it can be sold. Worldwide application of ifrs 3, ias 38 and ias 36. Pdf worldwide application of ifrs 3, ias 38 and ias 36, related. March 2017 recognition and initial measurement this communication contains a general overview of the topic and is current as of march 31, 2017. Sep 26, 2012 in order for an intangible asset to be recognised in the financial statements it must. The objective of ias 16 is to prescribe the accounting treatment for property, plant, and equipment. The accounting standard ias 38 sets out accounting treatment and disclosures to be applied to the recognition and measurement of intangible assets.
Ias 16 and ias 38 clarification of acceptable methods of. Instead, an entity follows ias 16 property, plant and equipment or ias 40 investment property, depending on which standard is appropriate in the circumstances. Scope ias 38 applies to all intangible assets, except. This is a culturallinguistic analysis on the names of nias ancestors. Pdf linguistic analysis on the names of nias ancestors. Issued by the international accounting standards board. Intangible assets ias 38 30 property, plant and equipment ias 16 31 investment property ias 40 32 impairment of assets ias 36 33 lease accounting ias 17, ifrs 16 34 inventories ias 2 35 provisions and contingencies ias 37 36 events after the reporting period and financial commitments ias 10 38. The ifrs foundations logo and the ifrs for smes logo, the iasb logo, the hexagon device, eifrs, ias, iasb, ifric, ifrs, ifrs for smes, ifrs foundation, international accounting standards, international financial reporting standards, niif and sic are registered trade marks of the ifrs foundation, further details of which are available from the ifrs. Renmin ribao peoples daily 201116 basic information fulltextdatabase with access to the renmin ribao or the peoples daily, the the main newspaper of the chinese communist party since 1946 continuation of renmin ribao from 2012 until end of 2016. September 1998 ias 38, intangible assets 1 july 1999 effective date of ias 38 p. All the paragraphs have equal authority but retain the iasc format of the standard when it was adopted by the iasb. How to account for intangible assets under ias 38 ifrsbox.
Pdf migration of non volatile compounds from twenty six pp films used as. Ias 38 intangible assets 2017 05 pkf international. Nz ias 16 this version is effective for reporting periods beginning on or after. Does paragraph 3e of ifrs 16 only apply to the licensing arrangements.
Ias 38 intangible assets adeel september 5, 2016 august 24, 2016 no comments on summary notes. An asset is a resource that is controlled by the entity as a result of past events for example, purchase or selfcreation and from which future economic benefits inflows of cash or other assets are expected. The standard ias 38 prescribes the rules for accounting for all intangible. Ias 16 outlines the accounting treatment for most types of property, plant and equipment. Ias 38 prescribes accounting treatment for all intangible assets that are. The ifrs interpretations committee has previously considered a number of relevant issues that have been submitted by stakeholders. The recognition and measurement of some financial assets are covered by ifrs 10. Regulatory and analytical affairs in munich, germany. Ias 16 property, plant and equipment 2017 07 2 cost is the amount of cash or cash equivalents paid or the fair value of the other consideration given to acquire an asset at the time of its acquisition or construction or, where applicable, the amount attributed to that asset when. Plant and equipment and ias 38 intangible assets dealing with acceptable. Ias 38 intangible assets, and examines compliance levels with the. Recognition and measurement the initial measurement of an intangible asset depends on whether it has been acquired separately, has been. International accounting standard 16 property, plant and equipment ias 16is set out in paragraphs 183 and the appendix. Ias 38 intangible assets 2017 05 2 an asset is identifiable if it is either.
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