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IAS 16 property plant and equipment

Forums › ACCA Forums › ACCA SBR Strategic Business Reporting Forums › IAS 16 property plant and equipment

  • This topic has 0 replies, 1 voice, and was last updated 7 years ago by KULUMBA.
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  • April 8, 2015 at 3:50 pm #240532
    KULUMBA
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    • Topics: 2
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    At the date of acquisition of P Co(1 Jan 2000), the fair value of its freehold property was considered to be $400,000 greater than its value in P Co’s statement of financial position($1250). P Co had acquired the property ten years earlier and the buildings element (comprising 50% of the total value) is depreciated on cost over 50 years. reporting date 31 Dec 2005.

    how to account for the above transaction?

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