Analyzing Current Accounting Issues

Analyzing a newspaper article or web page report on a current accounting issue and providing a theoretical understanding of the topic.

CPA Australia has welcomed Mr. Hans Hoogervorst, Chairman of the International Accounting Standards Board, to their offices on October 18th, 2017. During his

CPA Australia welcomes Mr Hans Hoogervorst,

CPA Australia welcomes th 18 October 2017 Mr Hans Hoogervorst Chairman International Accounting Standards Board 30 Cannon Street London EC4M 6XH United Kingdom

Exposure Draft ED/2017/4 - Property, Plant and Equipment -Proceeds before Intended Use (Proposed amendments to IAS 16)

Proposal for amendments to IAS 16

Basic Calculus

The International Accounting Standards Board (Board) has proposed amendments to IAS 16 Property, Plant and Equipment. The amendments would prohibit deducting from the cost of an item of property, plant and equipment any proceeds from selling items produced while bringing that asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Instead, an entity would recognise those sales proceeds in profit or loss. Read the Exposure Draft ED/2017/4 for more information.

Hartpury University and Hartpury College

Exposure Draft ED/2017/4: Property, Plant and Equipment—Proceeds before Intended Use

The Association of Accounting Technicians (AAT) has submitted a response to the consultation on Proposed Amendments to IAS 16 – Proceeds before Intended Use, agreeing with the Board's proposal to prohibit deducting from the cost of an item of property, plant and equipment any proceeds from selling items produced while bringing that asset to the location and condition necessary for it to be capable of operating in the manner intended by management. AAT believes that only costs and income directly attributable to bringing an asset to the point at which it is ready for its intended use should be capitalised as part of the costs of an asset. AAT is a professional accountancy body with approximately 50,000 full and fellow members and over 90,000 student and affiliate members worldwide.

Association of Accounting Technicians response to Proposed amendments to IAS 16 – Proceeds before Intended Use

CPA Australia and the Institute of Chartered Accountants in Australia have submitted a comment letter on ED 2013/6: Leases. The letter commends the IASB for tackling accounting for leases and supports the decision to develop a model to replace the existing requirements. However, the letter also raises concerns about the proposed dual model for determining the profile of income and expenses, the lack of synchronisation between the lessor and lessee accounting proposals, and the classification of leases based on the nature of the underlying asset. The letter provides detailed comments on each question posed in the exposure draft.

CPA Australia welcomes th 18 October 2017 Mr Hans Hoogervorst Chairman International Accounting Standards Board 30 Cannon Street London EC4M 6XH United Kingdom

End of preview

Exposure Draft ED/2017/4 - Property, Plant and Equipment -Proceeds before Intended Use (Proposed amendments to IAS 16)

Proposal for amendments to IAS 16

Exposure Draft ED/2017/4: Property, Plant and Equipment—Proceeds before Intended Use

Association of Accounting Technicians response to Proposed amendments to IAS 16 – Proceeds before Intended Use

Comment letter on ED 2013/6: Leases

Response to Exposure Draft ED/2o17/o4: Property, Plant and Equipment Use - Proceeds before Intended

CPA Australia welcomes th 18 October 2017 Mr Hans Hoogervorst Chairman International Accounting Standards Board 30 Cannon Street London EC4M 6XH United Kingdom

End of preview

Exposure Draft ED/2017/4 - Property, Plant and Equipment -Proceeds before Intended Use (Proposed amendments to IAS 16)lg...

Proposal for amendments to IAS 16lg...

Exposure Draft ED/2017/4: Property, Plant and Equipment—Proceeds before Intended Uselg...

Association of Accounting Technicians response to Proposed amendments to IAS 16 – Proceeds before Intended Uselg...

Comment letter on ED 2013/6: Leaseslg...

Response to Exposure Draft ED/2o17/o4: Property, Plant and Equipment Use - Proceeds before Intendedlg...

Exposure Draft ED/2017/4 - Property, Plant and Equipment -Proceeds before Intended Use (Proposed amendments to IAS 16)

Proposal for amendments to IAS 16

Exposure Draft ED/2017/4: Property, Plant and Equipment—Proceeds before Intended Use

Association of Accounting Technicians response to Proposed amendments to IAS 16 – Proceeds before Intended Use

Comment letter on ED 2013/6: Leases

Response to Exposure Draft ED/2o17/o4: Property, Plant and Equipment Use - Proceeds before Intended