About this seminar

This course provides entities with an overview of how to account for property, plant and equipment in accordance with IAS 16 Property, Plant and Equipment. This course covers the following:

  • The scope of IAS 16

  • How to identify an item of property, plant and equipment

  • Initial recognition and measurement of an item of property, plant and equipment

  • Subsequent accounting for an item of property, plant and equipment using either the cost or revaluation model

  • How to account for subsequent costs associated with an item of property, plant and equipment

  • When to derecognise an item of property, plant and equipment

  • Preparing disclosures required in respect to property, plant and equipment.

How this seminar can help your business

While the accounting for property, plant and equipment may seem straightforward, we continue to see entities making significant but avoidable errors in applying IAS 16. This course aims to help entities avoid errors in accounting for property, plant and equipment by providing an understanding of the scope, recognition and measurement and disclosure requirements set out in the Standard.

Meet your course instructor

IFRS Instructor

Dean Ardern

Dean has been advising on IFRS and other financial reporting matters for over 15 years. Having worked with a range of clients in both the for-profit and not-for-profit sectors, Dean understands the challenges preparers face. Dean has presented academic and professional training seminars and published papers on various topics in financial accounting and reporting in Australia and internationally. Dean has also participated in various professional liaison and working groups, including the AASB’s Disclosure Initiative Project Advisory Panel and the Institute of Actuaries of Australia’s Insurance Accounting Standards Committee.