mineral rights and mineral reserves such as oil, natural gas and similar non-regenerative resources. IAS 16 8 TOEPASSINGSGEBIED – IAS 15 (prijswijzigingen) en 29 (hyperinflatie) (5) • Worden niet door deze standaard behandeld • Moeten echter aan alle aspecten van IAS 16 voldoen, behalve aan degene die verband houden met de waardering van materiële vaste activa na hun eerste opname IAS 16 4 [IAS 16.36]. Learn more at http://www.pwc.com/ifrs16This is the third video in a series on the key issues in implementing the new leases standard IFRS 16. The transfer to retained earnings should not be made through profit or loss. [IAS 16.51], The depreciation method used should reflect the pattern in which the asset's economic benefits are consumed by the entity [IAS 16.60]; a depreciation method that is based on revenue that is generated by an activity that includes the use of an asset is not appropriate. [IAS 16.24], Under the revaluation model, revaluations should be carried out regularly, so that the carrying amount of an asset does not differ materially from its fair value at the balance sheet date. Maatregelen tegen de impact van het coronavirus, Gedragscode en Meldings- & Klokkenluidersregeling. Als gevolg van deze nieuwe standaard moeten alle lease- en huurverplichtingen (zoals huurcontracten met betrekking tot vastgoed) met ingang van 1 januari 2019 op de balans komen in de commerciële IFRS jaarrekening van de lessee/huurder. Taxation – IAS 12, IFRIC 23 27 Earnings per share – IAS 33 28 Balance sheet and related notes 29 Intangible assets – IAS 38 30 Property, plant and equipment – IAS 16 31 Investment property – IAS 40 32 Impairment of assets – IAS 36 33 Lease accounting – IAS 17, IFRS 16 34 Inventories – IAS 2 35 When each major inspection is performed, its cost is recognised in the carrying amount of the item of property, plant, and equipment as a replacement if the recognition criteria are satisfied. review IAS 16 standard's disclosure requirements. [IAS 16.20A], If payment for an item of property, plant, and equipment is deferred, interest at a market rate must be recognised or imputed. Find articles, books and online resources providing quick links to the standard, summaries, guidance and news of recent developments. The principal issues are the recognition of assets, the determination of their carrying amounts, and the depreciation charges and impairment losses to be recognised in relation to them. Each word should be on a separate line. hyphenated at the specified hyphenation points. or leasing as a means to obtain access to assets and will therefore be affected by the new standard. it is probable that the future economic benefits associated with the asset will flow to the entity, and. IFRS News - May 2019 This month's issues: The effect on hedge accounting of the reform of LIBOR and other similar rates - PwC In brief Interim disclosures in the first year of applying IFRS 16 - PwC In brief Transition Resource Group ('TRG') continue This will be a far-reaching change in accounting by lessees in particular. These interims will be the first financial statements applying IFRS 16, and so they will need additional disclosures to explain the changes. An item of property, plant, or equipment shall not be carried at more than recoverable amount. Once entered, they are only Property, plant and equipment is initially measured at its cost, subsequently measured either using a cost or revaluation model, and depreciated so that its depreciable amount is allocated on a systematic basis over its useful life. It comes into effect on 1 January 2019. The IASB has published IFRS 16 – the new leases standard. IAS 16 applies to property (that is, buildings) held for use in the production or supply of goods or services, for rental to others, or for administrative purposes, if the property is … Modellen er målrettet virksomheder med op til 3-400 leasingaftaler og giver grundlag for den løbende bogføring og kan bl.a. All amendments are effective in the EU for annual periods beginning on or after 1 February 2015, however, earlier application is permitted so EU companies can adopt in accordance with the IASB effective date (1 July 2014). Yes, subscribe to the newsletter, and member firms of the PwC network can email me about products, services, insights, and events. reconciliation of the carrying amount at the beginning and the end of the period, showing: acquisitions through business combinations, net foreign exchange differences on translation, restrictions on title and items pledged as security for liabilities, expenditures to construct property, plant, and equipment during the period, contractual commitments to acquire property, plant, and equipment. Depreciation begins when the asset is available for use and continues until the asset is derecognised, even if it is idle. Lease-Standaard IFRS 16, and ias 16 pwc they will need additional disclosures to explain changes. At der ikke skal skelnes mel-lem operationelle og finansielle leasingaftaler, som IAS 17 gør i dag de de. Most notable aspects of IFRS 16, and equipment profit or loss on disposal is the higher of an 's... 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