ipsas investment property

In late 2003, the IPSASBs predecessor, the Public Sector Committee (PSC),2 actioned an IPSAS improvements project to converge, where appropriate, IPSASs with the improved IASs issued in December 2003. 17: Property, Plant and Equipment Objective: To prescribe the principles for initial recognition and subsequent accounting for property, plant and equipment (carrying amount, depreciation and impairment loss) IPSAS No. IPSAS 16 – “Investment Property” [vgl. IPSAS 11 – Construction Contracts; IPSAS 12 – Inventories; IPSAS 13 – Leases; IPSAS 14 – Events After the Reporting Date; IPSAS 15 Financial instruments: Disclosure and Presentation; IPSAS 16 – 20. [IAS 40.5] Examples of investment property: [IAS 40.8] land held for long-term capital appreciation Investment property (IPSAS 16) Impairment of cash generating assets (IPSAS 26) Impairment of non-cash generating assets (IPSAS 21) Borrowing costs (IPSAS 5) Inventories (IPSAS 12) Leases (IPSAS 13) Financial instruments (IPSAS 28, 29, 30) Agriculture (IPSAS 27) Accounting for Liabilities. 2.1 Accounting for property, plant and equipment GRAP 17 (IPSAS 17) 2.2 Inventories GRAP 12 (IPSAS 12) 2.3 Investment property GRAP 16 (IPSAS 16) 2.4 Intangible assets GRAP 31 (IPSAS 31) 2.5 Agricultural assets GRAP 27 (IPSAS 27) 2.6 Heritage assets GRAP 103 Investment property (IPSAS 16) Impairment of cash generating assets (IPSAS 26) Impairment of non-cash generating assets (IPSAS 21) Borrowing costs (IPSAS 5) Inventories (IPSAS 12) Leases (IPSAS 13) Financial instruments (IPSAS 28, 29, 30) Agriculture (IPSAS 27) Accounting for Liabilities. IPSAS 14 — Events After the Reporting Date Mandatory December 2006 1 January 2008 IPSAS 16 — Investment Property Mandatory December 2006 1 January 2008 IPSAS 17 — Property, Plant and Equipment Mandatory December 2006 1 January 2008 IPSAS 18 Segment Reporting Mandatory June 2002 1 July 2003 IPSAS 19 — Provisions, Contingent Liabilities and It also includes the Conceptual Framework for General Purpose Financial Reporting by Public Sector Entities. PBE IPSAS 16: INVESTMENT PROPERTY Effective Periods Beginning Version 1: 2014 1 April 2015 CLASSIFICATION Property held under an operating lease A property interest that is held by a lessee under an operating lease may be classified and accounted for as investment property on the fair value model provided that: The rest of the definition of investment property is met. oec. Accounting for assets 2.1 Accounting for property, plant and equipment GRAP 17 (IPSAS 17) 2.2 Inventories GRAP 12 (IPSAS 12) 2.3 Investment property GRAP 16 (IPSAS 16) 2.4 Intangible assets GRAP 31 (IPSAS 31) 2.5 Agricultural assets GRAP 27 (IPSAS 27) 2.6 Heritage assets GRAP 103 2.7 Statutory receivables GRAP 1083 Accounting for liabilities 3.1 Accounting for provisions, contingent … Overview. BC4. The Standard requires an entity to measure an item of property, plant and IPSAS 16 Investment Property . Investment properties are measured by lessors and lessees in accordance with the provisions of IPSAS 16. 10. PROPERTY, PLANT AND EQUIPMENT IPSAS 17 as adopted by the Maltese Government 4 Objective 1. 13. This Standard is a Regulation for the purpose of the Regulations (Disallowance) Act 1989. Investment property is held to earn rentals or for capital appreciation, or both. Principal definitions. IPSAS 16: Investment Property IPSAS 17: Property, Plant and Equipment IPSAS 18: Segment Reporting IPSAS 19: Provisions, Contingent Liabilities and Contingent Assets IPSAS 20: Related Party Disclosures IPSAS 21: Impairment of Non-Cash-Generating Assets IPSAS 22: Disclosure of Information About the General Government Sector IPSAS 23: Revenue from Non-Exchange Transactions (Taxes and … These Standards apply for annual financial statements covering periods beginning on or after January 1, 2013. IPSAS 20: Related Party Disclosures 172. The following terms are used in this Standard with the meanings specified: The commencement of the lease term is … The objective of this Standard is to prescribe the accounting treatment for property, plant and equipment so that users of financial statements can discern information about an entity’s investment in its property, plant and equipment and the changes in such investment. IPSAS 16, Investment Property shall use the cost model in this Standard. 163 0 obj <>/Filter/FlateDecode/ID[<2822AD47BB710DCE65CC9C469B99BE24>]/Index[157 17]/Info 156 0 R/Length 52/Prev 134466/Root 158 0 R/Size 174/Type/XRef/W[1 2 1]>>stream Instruments: Presentation; IPSAS 29, Financial Instruments: Recognition and Measurement; and IPSAS 30, Financial Instruments: Disclosures. Investment property is property (land or a building or part of a building or both) held (by the owner or by the lessee under a finance lease) to earn rentals or for capital appreciation or both. INVESTMENT PROPERTY 455 IPSAS 16 on a commercial basis to external parties to generate funds, rather than to produce or supply goods and services. Net changes in cash pool investments . Diese Standards sind als Emp- fehlungen zum Rechnungswesen und zur Rechnungslegung explizit für den öffentlichen Sektor entwickelt worden. The IPSASB¶s IFRS Convergence Program is an important element in the IPSASB¶s work program. h�b```f``Rb`2�x�(�� -��ץ�7��0F�S^rk��ے�%�� IPSAS No. This property would also meet the PUBLIC SECTOR definition of investment property. As a result IPSAS … Proceeds from disposal of property, plant and equipment . This course primarily relies on lecture and class discussion, although we also utilize in-class individual and group exercises to illustrate theory and practice relevant to financial decision-making regarding International Public Sector Accounting Standards (IPSAS). This Standard does not apply to investment property. 30 . IPSAS 11 – Construction Contracts; IPSAS 12 – Inventories; IPSAS 13 – Leases; IPSAS 14 – Events After the Reporting Date; IPSAS 15 Financial instruments: Disclosure and Presentation; IPSAS 16 – 20. Hierzu zählen alle Vermögensgegenstände, die langfristig für die Erzielung von Kapitalgewinnen oder Mieterträgen gehalten werden. STANDARD 16 INVESTMENT PROPERTY (PBE IPSAS 16) Issued May 2013 . The objective of IPSAS 16 is to prescribe the accounting treatment for investment property and related disclosure requirements. accounted for as investment property on the fair value model provided that: The rest of the definition of investment property is met. 15, 26 . investment property (IPSAS ® 16) impairment of cash generating assets (IPSAS® 26) impairment of non-cash generating assets (IPSAS® 21) borrowing costs (IPSAS® 5) inventories (IPSAS® 12) consolidation under the cash basisleases (IPSAS® 13) ®financial instruments (IPSAS 28, 29, 30) provisions contingent liabilities and contingent assets (IPSAS® 19) events after the reporting date (IPSAS … 15, 26 . IPSAS 16 - Investment property Enrollment in this course is by invitation only. IPSAS 12 applies to the obligations for dismantling, removing and restoring that are incurred during the period of using the item to produce inventories. IPSAS steht für International Public Sector Accounting Standards. PROPERTY, PLANT AND EQUIPMENT 5 PBE IPSAS 17 Objective 1. Acquisitions of property, plant and equipment. IPSAS 17 defines a class of property, plant and equipment as a grouping of assets of a similar nature or function in an entity’s operations that is shown as a single line-item for the purpose of reporting value and providing disclosure in the financial statements. Investment property is property (land or a building - or part of a building - or both) held to earn rentals or for capital appreciation or both, rather than for: hެ�mo�0ǿ�_n/��,UH@KWi�P��I�x)$(q��Z��ɲ|��?��G�cLx��cJB��,�O`�g�< L�(!��t�TM��I봌� ��Q]�P��M!�6��\�j�v�+;�5L�mV�T:��ҹ|T��pA�'�q��5$ЁK��mF~U'��!��#;�o;c�Ο��Ym��?��Q��"i��f�g��i\�c:��MG�Pa. Therefore, investment property generates cash flows largely independently of the other assets held by an entity. International Public Sector Accounting Standard 16, Investment Property as adopted by the Maltese Government, is set out in paragraphs 1–103A.All the paragraphs have equal authority. The IPSAS 21: Impairment of Non-Cash-Generating Assets 175. IPSAS 16 as adopted by the Maltese Government 3 _____ 1References to IPSAS 16 or any other IPSAS shall be taken as meaning ‘as adopted by the Maltese Government’. IPSAS 16 456 IPSAS 16—INVESTMENT PROPERTY Acknowledgment This International Public Sector Accounting Standard (IPSAS) is drawn primarily from International Accounting Standard (IAS) 40 (Revised 2003), “Investment Property” published by the International Accounting Standards Board (IASB). At donotsell @ oreilly.com cost model in this Standard is a Regulation for the of. Hierzu zählen alle Vermögensgegenstände, die langfristig für die Erzielung von Kapitalgewinnen oder Mieterträgen gehalten werden Regulation. 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