This paper. asked Apr 14 in IAS 16 - Property, Plant and Equipment by anonymous. Solution (a) The original carrying value would have been allocated as follows: â¬ Aircraft 8,800,000 Costs of inspection 200,000 9,000,000 The original cost of inspection will be derecognised and the new inspection costs will be UPSC IAS 2020: Check here most important questions on Current Affairs with answers which are likely to be asked in UPSC Civil Services IAS Prelims 2020 â¦ Reporting (FR) Tests Acca questions and answers on ias 16. Download Full PDF Package. As a consequence, IAS 16 is not prescriptive in requiring such things as non-specialised properties to be valued at existing use value (EUV), at depreciated replacement cost and properties surplus to requirements to be valued at open market value. Why is the answer to providing for the. Recent questions and answers in IAS 16 - Property, Plant and Equipment 0 answers. Financial Reporting ACCA questions and solutions 2002 - 2010. . at what rate should motorcycle be depreciated. 2 answers. ACCA Financial Reporting (FR) Further Question Practice Practice & Apply Questions & Answers. F7 Chapter 20 Questions â Interpretation of Accounts â Ratio Analysis F7 Chapter 21 Questions â IAS 33 Earnings Per Share F7 Chapter 22 Questions â Theoretical matters F7 Chapter 23 Questions â IAS 16 Property, Plant and Equipment F7 Chapter 24 Questions â â¦ Download PDF. 37 Full PDFs related to this paper. The objective of this standard is to prescribe the accounting treatment for property, plant and equipment so that users of the financial statements can discern information about an entityâs investment in its property, plant and equipment and the changes in such investments. Hello Sir, First question is about having a legal obligation. You can almost guarantee that in every exam you will be required to account for property, plant and equipment at least once. I have difficulty in this question. âIAS 16 Asset is a resource which is controlled by the entity, as a result of past event and from which economic benefit are expected to flow to the entityâ In an IAS 16 definition, you have noticed that control term used rather than ownership, this may not be the case every time. CPA Joseph Chacha. . IAS 16 Property, Plant and Equipment Objective . A short summary of this paper. ACCA FR Chapter 5 IAS16 Questions. Download. Acca Questions And Answers On Ias 16 Quiz: IAS 16 â¦ ACCA Past Papers - ACCA Past Exams - Questions and Answers, Download PDF documents, ACCA Articles and Tests, ACCA Exam tips, Essential Guide articles. 11 Comments. ... February 16, 2016 at 9:02 pm. The accounting for International Accounting Standard (IAS ®) 16, Property, Plant and Equipment is a particularly important area of the Financial Reporting syllabus. IAS 16 does not use the value to the business model. Question: Explain how each of these matters should be accounted for in accordance with the requirements of IAS 16. Financial Reporting ACCA questions and solutions 2002 - 2010. READ PAPER. In accordance with IAS 16 Property, Plant and Equipment, what is the depreciation charged to Aphrodite Co's profit or loss in respect of the machine for the year ended 31 December 20X4? ACCA Financial Reporting (FR) Chapter 12 Leases (IFRS 16) Questions - Free ACCA Financial Reporting (FR) Practice Tests what are importance of IAS 16 for construction industry?