The accounting standard IAS 16 sets out how entities should report their investment in property, plant and equipment. Find articles, books and online resources providing quick links to the standard, summaries, guidance and news of recent developments.
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The IFRS Foundation and International Accounting Standards Board (IASB) provides free access to the consolidated unaccompanied international accounting standards for the current year through its website; you will need to register to gain access.
These standards are the unaccompanied versions and do not include any additional content that accompanies the full IAS and IFRS such as illustrative examples, implementation guidance and bases for conclusions.
IAS 16 – Property, Plant and Equipment
Timeline and summary from Deloitte IAS Plus, with information on related interpretations and amendments under consideration.
Property, plant and equipment (including borrowing costs)
Topic summary provided by PwC, giving latest developments and overview, a summary of the standard and links to relevant resources.
Financial Reporting Faculty
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IFRS checklists and model financial statements
Online disclosure checklists, general IFRS illustrative statements and compliance questionnaires compiled by the ICAEW Library.
The ICAEW Library can provide extracts of reports to illustrate real-life best practice from CCH's Company Reporting tool. Extracts are searchable by industry sector, subject, company, auditor, listing status and year end date. The product also offers reports with summaries and commentary (with examples) on common practices and emerging issues, as well as an ongoing monitor of changing practices.
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The Library provides full text access to a selection of key business and reference eBooks from leading publishers. eBooks are available to logged-in ICAEW members, ACA students and other entitled users. If you are unable to access an eBook, please see our Help and support advice or contact firstname.lastname@example.org.
IFRS 2017: Interpretation and application of IFRS standards
Erwin Bakker (2017)
This Wiley guide has been fully updated to help practitioners apply and comply with the latest international financial reporting standards. It provides detailed guidance along with illustrative examples. The chapter on property, plant and equipment covers:
IASB proposes amendments to IAS 16 to reduce diversity in practice
Press release issued by the IASB on 20 June 2017 announcing proposed narrow-scope amendments to the standard relating to sales proceeds from the cost of an item of property, plant and equipment while that asset is being made available for use.
IASB issues amendments to IAS 16 and IAS 41 for bearer plants
Press release issued by the IASB on 30 June 2014 announcing changes to reporting for plants such as grape vines, rubber trees and oil plants. Bearer plants will fall under the scope of IAS 16 while the produce grown on the plants will remain under IAS 41.
IASB publishes amendments to IAS 16 Property, Plant and Equipment and IAS 38 Intangible Assets
Project update released on 12 May 2014 announcing a clarification of acceptable methods of depreciation and amortisation.
IASB concludes 2010–2012 and 2011–2013 Annual Improvements Cycles
Project update issued by the IASB on 12 December 2013 announcing amendments affecting IFRS 1, IFRS 2, IFRS 3, IFRS 8, IFRS 13, IAS 16, IAS 24, IAS 38 and IAS 40.
IASB concludes the 2009–2011 Annual Improvements cycle
Press release issued by the IASB on 17 May 2012 launching new amendments that will affect IFRS 1, IAS 1, IAS 16, IAS 32 and IAS 34.
Some guides and comparisons that we link to may pre-date the latest amendments to this standard. While these resources contain useful information, please treat them with appropriate caution.
Amendments to classification of bearer plants
Guide from PwC, published in November 2014, exploring the impact of changes to the standard.
Clarification of acceptable methods of depreciation and amortisation
Bulletin issued by PwC in May 2014 giving a brief overview of the impact of amendments to IAS 16 and IAS 38.
A practical guide to accounting for property under the cost model
Publication from PwC, published in September 2010, on applying the 'component approach' with IAS 16 for entities measuring their property, plant and equipment or investment properties at cost.
Interactive training modules from Deloitte with practical scenarios, worked examples and questions to test your knowledge. Each module is available to download as a zip file free of charge (registration is required).
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