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IAS 16 PPE

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › IAS 16 PPE

  • This topic has 1 reply, 2 voices, and was last updated 1 year ago by Stephen Widberg.
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  • June 7, 2021 at 9:44 am #623610
    Jiya024
    Member
    • Topics: 168
    • Replies: 56
    • ☆☆☆

    Dear Professor,

    Is it true that disclosures both ways are required. As in if a company uses revaluation model under IAS 16 PPE then it has to disclose the carrying amount of asset had it been measured using cost model.

    And similarly if the entity uses Cost model then it has to disclose the current market value of the asset as in under Revlaution model ?

    Many thanks!

    June 7, 2021 at 4:30 pm #623700
    Stephen Widberg
    Keymaster
    • Topics: 12
    • Replies: 2843
    • ☆☆☆☆☆

    I don’t think FV disclosures are required under IAS 16 if using cost model. Guidance:

    https://www.iasplus.com/en/standards/ias/ias16

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