International Accounting Standard 16

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The International Accounting Standard 16 ( IAS 16 ) is an accounting standard of the International Accounting Standards Board (IASB). It is part of the International Accounting Standards and contains regulations for accounting for property, plant and equipment .

Scope and approach

IAS 16 prescribes the accounting treatment of tangible assets ( property, plant and equipment ) of a company. The assets must be held by the company for the production of products or services, for rental or for administrative purposes. The assets are expected to continue to be used for more than a year.

Excluded from IAS 16 are biological assets ( IAS 41 ), mining and prospecting rights ( IFRS 6 ), as well as assets intended for sale ( IFRS 5 ). The acquisition valuation of leased items that are accounted for by the lessee is regulated in IAS 17 . IAS 40 applies to properties that are held as financial assets (so-called investment properties ) .

rating

Access assessment

The initial valuation of an asset within the meaning of IAS 16 takes place, as in German accounting law , in the amount of the acquisition or production costs . The acquisition costs include:

  1. Purchase price less discounts, cash discounts, etc. Ä.
  2. Site preparation costs
  3. Transport and assembly costs
  4. attributable consultant and notary fees
  5. Cost of test runs.

A special feature compared to accounting according to the German Commercial Code (HGB) is the capitalization of dismantling obligations as part of the acquisition or production costs in accordance with IAS 16.16 c.

According to IAS 16.19, the acquisition or production costs do not include:

  1. Costs for opening a new permanent establishment;
  2. Costs for the introduction of a new product;
  3. Costs in the course of a relocation;
  4. Administrative overheads.

Regular maintenance costs and repairs may not be capitalized according to IAS 16.12.

Follow-up evaluation

For subsequent valuation, there is a choice between the cost model (amortized acquisition or manufacturing costs) and the revaluation model ( revaluation method ). With the cost model , the acquisition or production costs are to be reduced by the scheduled and / or unscheduled depreciation (IAS 16.30). With the revaluation model , the valuation is carried out at fair value less scheduled or unscheduled depreciation (IAS 16.31).

Scheduled depreciation

Continuing cost can be based on a revaluation traffic values ( fair value accounting determined). The market value or revaluation approach is only permitted if this value can be reliably determined. It should also be noted that the market value must then be applied to the entire category of assets, i.e. This means that one building is not permitted to be valued at market value and the other at amortized cost. The possibility of accounting for property, plant and equipment at market value is a possibility of subsequent valuation that is unknown in German accounting law .

Another focus of IAS 16 is the so-called component approach. It states that every identifiable component of an item of property, plant and equipment must be depreciated with its specific useful life, e. For example, the engines of an aircraft with a different useful life are depreciated than the aircraft itself if the actual useful life is different.

Versions and validity in the European Union

The currently valid version of IAS 16 dates from 2003 and came into force on January 1, 2005. With the regulation of the European Commission of December 29, 2004, this version also applies in the European Union from January 1, 2005; (see also: International Accounting Standards ).

See also

literature

  • Wolfgang Ballwieser , u. a. (Ed.): Handbook IFRS 2011 . 7th edition. Wiley-VCH Verlag, Weinheim 2011, ISBN 978-3-527-50587-6 .
  • Rainer Buchholz: International accounting: The essential regulations according to IFRS and the new HGB - with tasks and solutions . 9th edition. Erich Schmidt Verlag, Berlin 2011, ISBN 978-3-503-13043-6 .
  • Bernhard Pellens, u. a .: International accounting: IFRS 1 to 8, IAS 1 to 41, IFRIC interpretations, draft standards. With examples, exercises and case study . 8th edition. Schäffer-Poeschel Verlag, Stuttgart 2011, ISBN 978-3-7910-2938-2 .

Web links

Individual evidence

  1. Regulation (EC) No. 2238/2004 of the Commission of December 29, 2004 amending Regulation (EC) No. 1725/2003 on the adoption of certain international accounting standards in accordance with Regulation (EC) No. 1606/2002 of the European Parliament and the Council on IFRS 1 and IAS Nos. 1 to 10, 12 to 17, 19 to 24, 27 to 38, 40 and 41 and SIC Nos. 1 to 7, 11 to 14, 18 to 27 and 30 to 33