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→ WhatsApp: +86 18221755073IAS-16 Property, Plant & Equipment. Definition: • Property, Plant & Equipment are tangible items that: • are held for use in the production or supply of goods or services; • for rental to others; • for administrative purposes; and • are expected to be used during more than one period. • Recognition: • The cost of an item or ...
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→ WhatsApp: +86 18221755073The financial statements should also disclose: the existence and amounts of restrictions on title, and property, plant and equipment pledged as security for liabilities; the amount of expenditure recognised in the carrying amount of an item of property, plant and equipment in the course of its construction; the amount of contractual commitments ...
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→ WhatsApp: +86 182217550732. Introduction In the case of huge construction projects; Proper use of the appropriate equipment contributes to economy, quality, safety, speed and timely completion of a project. Equipment are use for highway projects, irrigation, buildings, power projects etc. 15-30% of total project cost has been accounted towards equipment and machinery.
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→ WhatsApp: +86 1822175507312. RESPONSIBILITIES Employer Assess workplace for hazards Provide Appropriate PPE Determine when to use Provide PPE training for employees and instruction in proper use Employee Use PPE in accordance with training received and other instructions. Inspect daily and maintain it. Damaged or defective PPE is not to be used. Be familiar with the …
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→ WhatsApp: +86 18221755073IFRS Training Program Day 3 – December 4, 2008 Submitted by – Mukesh Thakur IAS 16: Property, Plant and Equipment (PPE). Purpose of the Standard • To prescribe the accounting treatment for Property, Plant and Equipment (PPE) The principal issues are • The timing of Recognition of the assets • The determination of their carrying amount and • The …
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→ WhatsApp: +86 18221755073IAS 16 provides guidance on accounting for property, plant and equipment. It requires initial recognition of assets at cost and subsequent measurement using either the cost model or revaluation model. It also provides guidance on depreciation, derecognition, and disclosures of property, plant and equipment.
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→ WhatsApp: +86 18221755073Chapter 11. Property, Plant & Equipment. Prepared by Kent Wilson. Objectives. Understand the nature of property, plant and equipment Understand initial measurement and recognition criteria Alternative measurement subsequent to initial recognition The cost model The revaluation model
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