Accounting Standards Lectures |IAS 16 PPE | ICAG | ACCA| CPA| CFA: Nhyira Premium - Part 1
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- čas přidán 5. 08. 2024
- In this video, IAS 16 Property, Plant and Equipment 2019 - Part 1, Nhyira Premium explains one of the fundamental accounting standards in Financial Reporting and Corporate Reporting.
In this lecture, Nhyira answers the following questions:
1. What are Property, Plants, and Equipment in accounting?
2. What cost can be capitalized when an asset is acquired?
3. Why are property, plant, and equipment important?
4. Why do we revalue assets?
5. Do you depreciate revalued assets?
In addition, Nhyira also explained the treatment of depreciation, property, plant and equipment journal entries, disposal of revalued assets accounting entries and depreciation of revalued assets.
This video is certainly for students preparing for the ACCA F7 and ACCA P2 examination as well as students of the Institute of Chartered Accountants Ghana (ICAG) studying Financial Reporting and Corporate Reporting.
Nhyira Premium explains the recognition criteria, measurement basis and disclosure requirement .
Nhyira Premium is a Trained and Certified Lecturer with many years of experience both in the Corporate World and the Education Industry. He is the Managing Partner at Premium Education Hub, LLC, the Creator of NHYIRAPREMIUMUNIVERISTY.COM, a published author of eleven (11) Business Books based on the ACCA - UK & ICAG professional qualification examination syllabi.
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Accounting Standards Series
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Keywords: ias 16 property plant and equipment acca, ias 16 depreciation, ias 16 depreciation of revalued assets, IAS 16 Property, Plant and Equipment 2019 , property plant and equipment sbr
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Great lecturer.very clear
Thank you
,.
i have ican exams in about a month, this really helped...thank you
God bless u sir. I have really understood it
awesome
Wow I must say that you are gifted. You make accounting seem so easy. Bravo! I have gained a lot from your videos.
Thank🙏🙏🙏🙏
You are a good lecturer .
Lifesaver. Couldn't find any good videos on this topic. Thanks a lot!
Always a pleasure
Watching from the university if cape coast. Thanks very much
Wow, thank you. So easy to understand now.
Great, remember to subscribe to the channel and share with others so we can help more students.
What causes impairment in value of property plant and equipment
Great you make accounting so easily understand.thanks
It's a pleasure. Check the entire playlist for more lecture videos like this.
Thanks for being part of the family 🙏🙏🙏
It's a pleasure. Check the entire playlist for more lecture videos like this.
Thanks for being part of the family 🙏🙏🙏
You are very good Sir! Thank you so much
It's a pleasure 🙏🙏🙏🙏🙏
I'm still struggling with revaluation model and how to do the revaluation reserve! I just don't understand 🙇🙇🤦🤦may you please upload more videos on that Sir! I'm from Namibia 🇳🇦🇳🇦🙏🙏
@@penelaomwandingi3969 hello, check the playlist titled Accounting Standards Series and you will get the videos on IAS 16. I have covered Revelation in some of the videos
Really useful thank you . some practical examples would be great.
Awesome, I will do that. You can actually check the playlist titled Accounting Standards Series for other practice questions on this.
I LIKE YOUR TUTORIALS BUT I SUGGEST YOU FINISH BEFORE LOOKING AT COMMENT TO ADDRESS THEM APPROORIATELY. THANK YOU
Please if there is a revaluation surplus of an asset under IAS 16, will we record the surplus in other comprehensive income?
Yes
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This is a job well done. The approach makes it very easy to understand. However, I will like you to help me throw more light on "the cost of opening a new facility" among others as cost that are not part of cost of an asset. Thanks sir
When you say ".....the cost of opening a new facility...." can you clarify on that so I can better answer your question?
@@NhyiraPremium I read that some of the cost that cannot be recognised as the cost of an item of PPE are:
1. Cost of opening a new facility or business.
2. Cost of introducing a new product or service etc.
I don't really understand no 1 . kindly help me throw more light.
Thanks
2.
@@tayeolusesan6752 Alright, cost of opening a new facility could be the ceremony, refreshments and other costs. These don't meet the definition of expenses to be capitalized under IAS 16.
Is that clear now?
@@NhyiraPremium very clear. Thanks so much sir
@@tayeolusesan6752 it's a pleasure
Good afternoon sir. Thank you for making the standards so easy. Pls can you do a video on IFRS 2 and IAS 19 God bless you. I am writing ACCA IFRS Diploma for June 2021.
Alright