Property Plant and Equipment

Property, plant, equipment and other assets PwC US GAAP guide

December 1, 2021December 18, 2021 alishan No Comments

PwC is pleased to offer updated accounting and financial reporting guide for Property, plant, equipment and other assets. Although many view the accounting for property, plant, and equipment to be relatively straightforward, there is limited technical guidance and there can be many areas that require judgment. Some areas, such as construction in process, capitalized software,…

PwC US GAAP Publications, US GAAP

Amendment to IAS 16 – Proceeds before intended use

November 22, 2021December 18, 2021 alishan No Comments

The IASB (‘Board’) has concluded that the cost of an asset includes any costs attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. One of those costs is testing whether the asset is functioning properly. The amendment to IAS 16 prohibits an entity from deducting…

IFRS, PwC IFRS Publications