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IAS 16 applies to property, plant and equipment (PPE). The standard itself defines PPE as "tangible items that are held for use in the production or supply of goods or services, for rental to others, or for administrative purposes; and are expected to be used during more than one [accounting] period."
While IAS 16 (International Accounting Standard) does not define the term fixed asset, [2] it is often colloquially considered a synonym for property, plant and equipment. According to IAS 16.6, property, plant and equipment are tangible items that:
Property, Plant and Equipment - Compensation for the Impairment or Loss of Items 1998 July 1, 1999: January 1, 2005: IAS 16: SIC 15 Operating Leases-Incentives 1998 January 1, 1999: January 1, 2019: IFRS 16: SIC 16 Share Capital - Reacquired Own Equity Instruments (Treasury Shares) 1998 July 1, 1999: January 1, 2005: IAS 32: SIC 17
Asset impairment was first addressed by the International Accounting Standards Board (IASB) in IAS 16, which became effective in 1983. [2] It was replaced by IAS 36, effective July 1999. [2] In United States GAAP, the Financial Accounting Standards Board (FASB) introduced the concept in 1995 with the release of SFAS 121. [3]
On this week's overreaction pod, Dan Wetzel Ross Dellenger and SI's Pat Forde acknowledge what led to home teams handedly winning each matchup. They cover how offensive line and defensive line ...
Rely on medical equipment that they cannot operate or maintain. Cannot follow directions or move to safety in emergency situations. Have active tuberculosis. Are chronically bedbound.
The standard IAS 1 also requires an additional statement of financial position (also called a third balance sheet) when an entity applies an accounting policy retrospectively or makes a retrospective restatement of items in its financial statements, or when it reclassifies items in its financial statements.
Commonly prescribed thyroid drug levothyroxine was linked with bone mass and bone density loss in a cohort of older adults in a recent study.