Page 129 - F3 -FA Integrated Workbook STUDENT 2018-19
P. 129

Non-current assets: disposal and revaluation





                           IAS 16 disclosure requirements
                           IAS 16 disclosure requirements




               3.1  Accounting policies and other information








               IAS 16 Property Plant and Equipment includes a number of disclosure requirements
               relating to non-current assets. The principal disclosure requirements relate to
               disclosure of the accounting policies relating to property, plant and equipment and
               are noted below:

                    the measurement basis used for arriving at the carrying amount of the asset

                    depreciation methods used, with details of useful lives or the depreciation rates
                     used

                    the gross amount of each asset heading and its related accumulated
                     depreciation at the beginning and at the end of the accounting period

                    a reconciliation of the carrying amount at the beginning and at the end of the
                     period, showing additions, assets classified as held for sale, disposals,
                     revaluations and depreciation

                    any commitments for the future acquisition of property, plant and equipment
                    if assets are stated at revalued amounts, the following should be disclosed:

                     –     the effective date of the revaluation

                     –     whether an independent valuer performed the valuation
                     –     the methods and assumptions applied in estimating the fair value of the
                           item

                     –     the carrying amount that would have been recognised had it been carried
                           at cost, and

                     –     the revaluation surplus, indicating the change for the period.














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