IAS 16 Property, Plant and Equipment outlines the accounting treatment for most types of property, plant and equipment. 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.

IAS 16 was reissued in December 2003 and applies to annual periods beginning on or after 1 January 2005.

The objective of IAS 16 is to prescribe the accounting treatment for property, plant, and equipment. 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.

This course is an introduction for accountants or professionals who want to learn in more details about the accounting treatment of IAS 16 the property, plant and equipment that are increasingly adopting by more organizations around the world. This course provides a clear guide on how to recognize an item of property, plant and equipment as well as initial and subsequent measurement of PPE items. Also it includes the depreciation methods and review of useful life of an asset after major upgrades or revaluation project for specific PPE items. Many real-world examples about IAS 16 application will also help you perceive the concepts easily.

After studying this course you will be able to practice the IAS 16 properly whether for studying or pursuing a career for organizations that require using IAS standard as a major accounting policy.