3Noncurrent assetsWord下载.docx
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3Noncurrent assetsWord下载.docx
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●Animpairmentlossistheamountbywhichthecarryingamountofanassetexceedsitsrecoverableamount.
1.2inthiscontext,recognitionsimplymeansincorporationoftheiteminthebusiness’saccounts,inthiscaseasanon-currentasset.Therecognitionofproperty,plantandequipmentdependsontwocriteria.
(a)Itisprobablethatfutureeconomicbenefitsassociatedwiththeassetwillflowtotheentity
(b)Thecostoftheassettotheentitycanbemeasuredreliably
1.3Initialmeasurement
Onceanitemofproperty,plantandequipmentqualifiesforrecognitionasanasset,itwillinitiallybemeasuredatcost
Componentsofcost
Thestandardliststhecomponentsofthecostofanitemofproperty,plantandequipment
●Purchaseprice,lessanytradediscountorrebate
●Importdutiesandnon-refundablepurchasetaxes
●Directlyattributablecostofbringingtheassettoworkingconditionforitsintendeduse,eg:
--Thecostofsitepreparation
--Initialdeliveryandhandlingcosts
--Installationcosts
--Testing
--Professionalfees(architects,engineers)
Exchangesofassets
IAS16specifiesthatexchangeofitemsofproperty,plantandequipment,regardlessofwhethertheassetsaresimilar,aremeasuredatfairvalue,unlesstheexchangetransactionlackscommercialsubstanceorthefairvalueofneitheroftheassetsexchangedcanbemeasuredreliably.
1.4Measurementsubsequenttoinitialrecognition
Thestandardofferstwopossibletreatmentshere,essentiallyachoicebetweenkeepinganassetrecordedatcostorrevaluingittofairvalue.
(a)Costmodel.Carrytheassetatitscostlessdepreciationandanyaccumulatedimpairmentloss
(b)Revaluationmodel.Carrytheassetatarevaluatedamount,beingitsfairvalueatthedateoftherevaluationlessanysubsequentaccumulateddepreciationandsubsequentaccumulatedimpairmentlosses.TherevisedIAS16makesclearthattherevaluationmodelisavailableonlyifthefairvalueoftheitemcanbemeasuredreliably.
Revaluations
Mostimportantly,whenanitemofproperty,plantandequipmentisrevalued,thewholeclassofassetstowhichitbelongsshouldberevalued
Alltheitemswithinaclassshouldberevaluedatthesametime.
IAS16requirestheincreasetobecreditedtoarevaluationsurplus(iepartofowners’equity),unlesstheincreaseisreversingapreviousdecreasewhichwasrecognizedasanexpense.Totheextentthatthisoffsetismade,theincreaseisrecognizedasincome;
anyexcessisthentakentotherevaluationsurplus.
Example:
revaluationsurplus
BinkieCohasanitemoflandcarriedinitsbooksat$13,000.Twoyearsagoaslumpinlandvaluesledthecompanytoreducethecarryingvaluefrom$15,000.Thiswastakenasanexpenseinprofitorloss.Therehasbeenasurgeinlandpricesinthecurrentyear,however,andthelandisnowworth$20,000.
Accountfortherevaluationinthecurrentyear
Solution
Thedoubleentryis:
DEBITAssetvalue(statementoffinancialposition)$7,000
CREDITProfitorloss$2,000
Revaluationsurplus$5,000
Thecaseissimilarforadecreaseinvalueonrevaluation.Anydecreaseshouldberecognizedasanexpenseexceptwhereitsoffsetsapreviousincreasetakenasarevaluationsurplusinowners’equity.Anydecreasegreaterthanthepreviousupwardsincreaseinvaluemustbetakenasanexpenseintheprofitorloss
revaluationdecrease
Letussimpleswaproundtheexamplegivenabove.Theoriginalcostwas$15,000,revaluedupwardsto$20,000twoyearsago.Thevaluehasnowfallento$13,000
Accountforthedecreaseinvalue
DEBITRevaluationsurplus$5,000
DEBITprofitorloss$2,000
CREDITAssetvalue(statementoffinancialposition)$7,000
revaluationanddepreciation
CrinckleCoboughtanassetfor$10,000atthebeginningof20*6.Ithadausefullifeoffiveyears.On1January20*8theassetwasrevaluedto$12,000.Theexpectedusefullifehasremainedunchanged(iethreeyearsremain).
Accountfortherevaluationandstatethetreatmentfordepreciationfrom20*8onwards.
On1January20*8thecarryingvalueoftheassetis$10,000-(2*$10,000/5)=$6,000.Fortherevaluation:
DEBITAccumulateddepreciation$4,000
DEBITAssetvalue$2,000
CREDITRevaluation$6,000
Thedepreciationforthenextthreeyearswillbe$12,000/3=$4,000,comparedtodepreciationoncostof$10,000/5=$2,000.Soeachyear,theextra$2,000canbetreatedaspartofthesurpluswhichhasbecomerealised
DEBITRevaluationsurplus$2,000
CREDITRetainedearnings$2,000
1.5Depreciation
Thestandardstates:
●Thedepreciableamountofanitemofproperty,plantandequipmentshouldbeallocatedonasystematicbasisoveritsusefullife.
●Thedepreciationmethodusedshouldreflectthepatterninwhichtheasset’seconomicbenefitsareconsumedbytheentity
●Thedepreciationchargeforeachperiodshouldberecognizedasexpense
Landandbuildingaredealtwithseparatelyevenwhentheyareacquiredtogetherbecauselandnormallyhasanunlimitedlifeandisthereforenotdepreciated.Incontrastbuildingsdohavealimitedlifeandmustbedepreciated.
●usefullife
Usefullifeisoneoftwothings.
---Theperiodoverwhichadepreciableassetisexpectedtobeusedbytheentity,
---Thenumberofproductionorsimilarunitsexpectedtobeobtainedfromtheassetbytheentity.
Reviewofusefullife
Areviewoftheusefullifeofproperty,plantandequipmentshouldbecarriedoutatleastateachfinancialyearendandthedepreciationchargeforthecurrentandfutureperiodsshouldbeadjustedifexpectationshavechangedsignificantlyfrompreviousestimates.Changesarechangesinaccountingestimatesandareaccountedforprospectivelyasadjustmenttofuturedepreciation.
reviewofusefullife
BCoacquiredanon-currentasseton1January20*2for$80,000.Ithadnoresidualvalueandausefullifeof10years
On1January20*5theremainingusefullifewasreviewedandrevisedto4years.Whatwillbethedepreciationchargefor20*5?
$
Originalcost80,000
Depreciation20*2-20*4(80,000*3/10)(24,000)
Carryingamountat31December20*456,000
Remaininglife4years
Depreciationchargeyears20*5-20*8(56,000/4)14,000
●method
(a)Thestraightlinemethod
(b)Thereducingbalancemethod
(c)Themachinehourmethod
(d)Thesum-of-thedigitsmethod
Example
Alorryboughtforabusinesscost$17000.Itisexpectedtolastforfiveyearsandthenbesoldforscrapfor$2000.Usageoverthefiveyearsisexpectedtobe:
Year1200days
Year2100days
Year3100days
Year4150days
Year540days
Required
Workoutthedepreciationtobechargedeachyearunder:
(b)Thereducingbalancemethod(usingarateof35%)
Answer:
(a)underthestraightlinemethod,depreciationforeachofthefiveyearsis
Annualdepreciation=$(17,000-2,000)/5=$3,000
(b)Underthereducingmethod,depreciationforeachofthefiveyearsis:
YearDepreciation
135%*17,000=$5,950
235%*(17,000-5,950)=35%*11,050=$3,868
335%*(11,050-3,868)=35%*7,182=$2,514
435%*(7,182-2,514)=35%*4,668=$1,634
5balancetobringbookvaluedownto$2,000
=4,668-1634-2000=$1,034
(c)Underthemachinehourmethod,depreciationforeachofthefiveyearsiscalculatedasfollows.
Totalusage(days)=200+100+100+150+40=590days
Depreciationperday=(17000-2000)/590=$25.42
UsagedaysDepreciation$
Year(days*$25.42)
12005,084.00
21002,542.00
31002,542.00
41503,813.00
5401,016.80
14,997.80
(d)Thesum-of-thedigitsmethodbeginsbyaddinguptheyearsofexpectedlife.Inthiscase,5+4+3+2+1=15
Thedepreciationamountof$15,000willthenbeallocatedasfollows:
Year1$15,000*5/15=5,000
2$15,000*4/15=4,000
3$15,000*3/15=3,000
4$15,000*2/15=2,000
5$15,000*1/15=1,000
Thedepreciationmethodshouldalsobereviewedatleastateachfinancialyearendand,iftherehasbeenasignificantchangeintheexpectedpatternofeconomicbenefitsfromthoseassets,themethodshouldbechangedtosuitthischangedpattern.Whensuchachangeindepreciationmethodtakesplacethechangesshouldbeaccountedforasachangeinaccountingestimateandthedepreciationchargeforthecurrentandfutureperiodsshouldbeadjusted.
Complexassets
Theseareassetswhicharemadeupofseparatecomponents.Eachcomponentisseparatelydepreciatedovertheirusefullife.Anexamplewhichappearedinarecentexaminationwasthatofanaircraft.Anaircraftcouldbeconsidered
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