Common Errors – Property, Plant and Equipment

Assisting you with the challenges in applying IAS 16 Property, Plant and Equipment in a rapidly changing and uncertain environment.

With the introduction of IFRS 16 Leases, preparers face further challenges around correctly distinguishing property, plant and equipment (PPE) from other non-financial assets, as well as appropriately accounting for those assets identified as PPE.

In this session we will focus on some of the more common errors preparers make when accounting for PPE, including:

• Distinguishing between PPE, investment property, inventory and right-of-use assets
• Determining the initial cost, including the accounting treatment of pre-production income
• Accounting for subsequent costs, and
• Subsequent remeasurement of PPE.

Learning Outcomes:

The session aims to provide attendees with an understanding of:

•      The key criteria for identifying PPE for accounting purposes
•      Some of the common practices applied in measuring PPE, and
•      Some of the common challenges preparers face when applying IAS 16 in the context of recent economic and regulatory developments.

Suited to:

Auditors, CFOs, Board Members, Financial Controllers, Finance Teams, Accountants involved in the preparation of financial reports.

This On Demand includes: 

• a recording of the webinar Event which can be viewed multiple times
• a PDF of the presenter’s PowerPoint
• a verbatim Transcript
• any supporting documentation
• a CPD Certificate after successful completion of the Knowledge Quiz