Related Discussions

• IAS 16, IAS 38 and IAS 17 — Purchase of a right to use land

• Sep 18, 2012

• The Interpretations Committee received a request to clarify whether the purchase of a right to use land should be accounted for as a purchase of property, plant and equipment, purchase of an intangible asset, or lease of land.

• IAS 16 — Cost of testing

• Jul 07, 2011

• The Interpretations Committee received a request to clarify the accounting for sales proceeds from testing an asset before it is ready for commercial production. The submitted fact pattern is that of an industrial group with several autonomous plants being available for use at different times. This group is subject to regulation that requires it to identify a ‘commercial production date’ for the whole industrial complex. The question asked of the Committee is whether the proceeds from those plants already in operation can be offset against the costs of testing those plants that are not yet available for use.

• IAS 38 — Amortisation method

• Jan 07, 2010

• The IFRIC received requests for guidance on the meaning of 'consumption of economic benefits' when determining the appropriate amortisation method for an intangible asset with a finite useful life. The methods considered in the submissions are the straight-line method and the unit of production method (including a revenue-based unit of production method).

• IAS 16 — Disclosure of idle assets and construction in progress

• May 07, 2009

• The IFRIC received a request for more guidance on the extent of required disclosures relating to property, plant and equipment temporarily idle or assets under construction when additional construction has been postponed. In accordance with paragraph 74(b) of IAS 16, an entity is required to disclose the amount of expenditures recognised in the carrying amount of an item of property, plant and equipment in the course of its construction. Paragraph 79(a) encourages an entity to disclose the amount of property, plant and equipment that is temporarily idle.

• IAS 16 — Sale of assets held for rental

• May 03, 2007

• The IFRIC was asked to provide guidance on the accounting for sales of assets held for rental. Some entities sell assets after renting them out to third parties. In such circumstances, it appears that the asset is manufactured or acquired with a dual intention, to rent it out and to sell it. The issue is whether the sale of such an asset should be presented gross (revenue and costs of sales) or net (gain or loss) in the income statement.

• IAS 16 — Revaluation of investment properties under construction

• Nov 01, 2006

• The IFRIC discussed whether to take on a project to consider whether the revaluation model in IAS 16 is available for investment property under construction.

• IAS 16 Property, Plant and Equipment and IAS 17 Leases: Depreciation of assets leased under operating leases

• Nov 04, 2004

• IAS 16 Property, Plant and Equipment

• May 04, 2004