IFRS: Property, Plant and Equipment – eLearning

Property, Plant and Equipment (PPE) plays a crucial role in the financial statements of many entities. They often make up one of the largest items on the statement of financial position and also play a big part in the statement of comprehensive income through the charging of depreciation and impairment. Accounting for them appropriately is therefore often vital.

This course looks at accounting for PPE through two Standards in particular. IAS 16 is the IFRS Standard that covers PPE specifically and IAS 36 covers the connected issue of impairment. The course explains all the key accounting requirements and disclosures and discusses them in detail, and is designed to enable you to make sound judgements as well as to understand the standards.

Upon satisfactory completion of this activity you will be able to:
•Understand what the overall rule for a PPE asset is.
•Understand how the cost of an asset is charged against profits in a way that reflects its usage.
•Define key concepts in various PPE disclosures such as impairments and business combinations.
•Decide if an asset is impaired and if so, what actions to follow.
•Identify key rules with relation to estimating future cash flows, and recognising and measuring impairment losses.

Benefits:
This course is essential for those who may not be familiar with the standards or need to refresh the fundamentals so they can apply the appropriate accounting treatment and disclosures.