IAS 16 establishes principles for recognising property, plant and equipment as assets, measuring their carrying amounts, and measuring the depreciation ...AboutusWhoweareOurstructureWorkinginthepublicinterestHowwesetIFRSStandardsOurconsultativebodiesContactusWorkwithusAroundtheworldWhyglobalaccountingstandards?UseofIFRSStandardsbyjurisdictionAdoptionandcopyrightNewsandresourcesPublication:UseofIFRSStandardsaroundtheworld[PDF]IssuedStandardsIFRSStandardsTheIFRSforSMEsStandardIFRSTranslationsEditorialcorrectionsIFRSTaxonomyApplyingtheStandardsSupportingmaterialsforIFRSStandardsSupportingconsistentapplicationSupportingmaterialsfortheIFRSforSMEsStandardProjectsWorkplanPost-implementationReviewsPipelineprojectsOpenforcommentBetterCommunicationinFinancialReportingCompletedprojectsNewsandeventsIFRSFoundationnewsIFRSFoundationUpdatesMeetingsandeventscalendarIFRSFoundationspeechesIFRSFoundationpodcastsServicesFollow-IAS16Property,PlantandEquipment×YouneedtoSignintousethisfeatureCloseShowSectionsAboutStandardNewsAboutIAS16establishesprinciplesforrecognisingproperty,plantandequipmentasassets,measuringtheircarryingamounts,andmeasuringthedepreciationchargesandimpairmentlossestoberecognisedinrelationtothem.Property,plantandequipmentaretangibleitemsthat:areheldforuseintheproductionorsupplyofgoodsorservices,forrentaltoothers,orforadministrativepurposes;andareexpectedtobeusedduringmorethanoneperiod.Property,plantandequipmentincludesbearerplantsrelatedtoagriculturalactivity.Thecostofanitemofproperty,plantandequipmentisrecognisedasanassetif,andonlyif:itisprobablethatfutureeconomicbenefitsassociatedwiththeitemwillflowtotheentity;andthecostoftheitemcanbemeasuredreliably.Anitemofproperty,plantandequipmentisinitiallymeasuredatitscost.Costincludes:itspurchaseprice,includingimportdutiesandnon-refundablepurchasetaxes,afterdeductingtradediscountsandrebates;anycostsdirectlyattributabletobringingtheassettothelocationandconditionnecessaryforittobecapableofoperatinginthemannerintendedbymanagement