IAS 16

International Accounting Standard 16 Property, Plant and Equipment or IAS 16 is an international financial reporting standard adopted by the International Accounting Standards Board (IASB). It concerns accounting for property, plant and equipment (known more generally as fixed assets), including recognition, determination of their carrying amounts, and the depreciation charges and impairment losses to be recognised in relation to them.

IAS 16 was issued in December 1993 by the International Accounting Standards Committee, the predecessor to the IASB. It was reissued in December 2003 and has been amended multiple times, most recently in May 2012.

Overview

IAS 16 applies to property, plant and equipment (PPE). The standard itself defines PPE as "tangible items that are held for use in the production or supply of goods or services, for rental to others, or for administrative purposes; and are expected to be used during more than one [accounting] period."

The standard does not apply to assets classified as held for sale in accordance with IFRS 5 Non-current Assets Held for Sale and Discontinued Operations and assets which require more specialised accounting, such as biological (IAS 41 Agriculture), exploration and evaluation assets (IFRS 6 Exploration for and Evaluation of Mineral Resources), mineral rights and reserves such as oil, natural gas and similar non-regenerative resources.

IAS

IAS may refer to:

Science

Finance

Religion

Health

IAS machine

The IAS machine was the first electronic computer built at the Institute for Advanced Study (IAS), in Princeton, New Jersey, USA. It is sometimes called the von Neumann machine, since the paper describing its design was edited by John von Neumann, a mathematics professor at both Princeton University and IAS. The computer was built from late 1945 until 1951 under his direction. The general organization is called Von Neumann architecture, even though it was both conceived and implemented by others.

History

Julian Bigelow was hired as chief engineer in May 1946.Hewitt Crane, Herman Goldstine, Gerald Estrin, Arthur Burks and Willis Ware also worked on the project. The machine was in limited operation in the summer of 1951 and fully operational on June 10, 1952.

It was in operation until July 15, 1958.

Description

The IAS machine was a binary computer with a 40-bit word, storing two 20-bit instructions in each word. The memory was 1024 words (5.1 kilobytes). Negative numbers were represented in "two's complement" format. It had two general-purpose registers available: the Accumulator (AC) and Multiplier/Quotient (MQ).

IAS 10

International Accounting Standard 10 Events after the Reporting Period or IAS 10 is an international financial reporting standard adopted by the International Accounting Standards Board (IASB). It contains requirements for when events between the end of the reporting period and the date on which the financial statements are authorised for issue should be reflected in the financial statements.

The principal factor for determining if an event is an adjusting event—and hence requiring adjustment in the financial statements—is whether the event provided evidence of conditions existing at the end of the reporting period. Non-adjusting events need also be disclosed where material.

IAS 10 (titled Events After the Balance Sheet Date) was issued in May 1999 by the International Accounting Standards Committee, the predecessor to the IASB. It was reissued by the IASB in December 2003 and retitled Events After the Reporting Period in September 2007 as a consequential amendment resulting from revisions to IAS 1 Presentation of Financial Statements.