10. 17: Property, Plant and Equipment. Terms of service • Privacy policy • Editorial independence. Diese Standards sind als Emp- fehlungen zum Rechnungswesen und zur Rechnungslegung explizit für den öffentlichen Sektor entwickelt worden. INVESTMENT PROPERTY IPSAS 16 as adopted by the Maltese Government 6 I PSA S ™ 16 (d) A building that is vacant but is held to be leased out under one or more operating leases on a commercial basis to external parties. IPSAS 16 Investment Property 5 11. IPSAS No. 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 IPSAS 18 Segment Reporting . [IAS 40.5] Examples of in­vest­ment property: [IAS 40.8] land held for long-term capital ap­pre­ci­a­tion Uncategorised Why choose IPSAS Learning 24 August 2019 General IPSAS Articles Submitting Articles to IPSAS Learning 24 August 2019 User Submitted Articles IPSAS, A Guaranteed Way of Quality 24 August 2019 General IPSAS Articles Measuring accrual-based IPSAS implementation and its 24 August 2019 General IPSAS Articles IPSAS adoption 24 August 2019 Looking for answers on […] IPSAS 16 – “Investment Property” [vgl. Get IPSAS Explained: A Summary of International Public Sector Accounting Standards, 2nd Edition now with O’Reilly online learning. It also includes the Conceptual Framework for General Purpose Financial Reporting by Public Sector Entities. [Not used] 10. a) Biological assets related to agricultural activity (see IPSAS 27. b) Mineral rights and mineral reserves such as oil, natural gas, and similar non-regenerative resources. 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. 15, 26 . This Standard is a Regulation for the purpose of the Regulations (Disallowance) Act 1989. This Handbook contains the complete International Public Sector Accounting Standards, published as of January 31, 2019. Definitions 8. %%EOF This distinguishes investment property from other land or buildings controlled by public sector entities, including owner-occupied property. 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 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 IPSAS 16—INVESTMENT PROPERTY Objective The objective of this International Public Sector Accounting Standard is to prescribe the accounting treatment for investment property and related disclosure requirements. Instruments: Presentation; IPSAS 29, Financial Instruments: Recognition and Measurement; and IPSAS 30, Financial Instruments: Disclosures. IPSAS 16, “Investment Property ”. IPSAS No. The Get unlimited access to books, videos, and. IPSAS No. IPSAS 16 Investment Property . IPSAS steht für International Public Sector Accounting Standards. 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 No. 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 … Objective: To prescribe the principles for initial recognition and subsequent accounting for property, plant and equipment (carrying amount, depreciation and impairment loss) IPSAS No. Sync all your devices and never lose your place. accounted for as investment property on the fair value model provided that: The rest of the definition of investment property is met. IPSAS 16—Investment Property: IAS 40: IPSAS 17—Property, Plant, and Equipment: IAS 16: IPSAS 18—Segment Reporting: IAS 14 (replaced) IPSAS 19—Provisions, Contingent Liabilities and Contingent Assets: IAS 37: IPSAS 20—Related Party Disclosures: IAS 24: IPSAS 21—Impairment of Non-Cash-Generating Assets: N/A 5. ��f����p��Q�a Die International Public Sector Accounting Standards (IPSAS) sind Rechnungslegungsstandards, die gemäß den Empfehlungen des IPSAS-Board von öffentlichen Einheiten, mit Ausnahme von öffentlichen wirtschaftlich tätigen Unternehmen, anzuwenden sind. 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. 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 108 3 Accounting for liabilities 3.1 Accounting for provisions, contingent and contingent assets GRAP 19 (IPSAS 19) 3.2 Accounting for trust funds 3.3 Accounting for leases GRAP 13 (IPSAS 13) 3.4 … Investment properties are measured by lessors and lessees in accordance with the provisions of IPSAS 16. IPSAS 16, issued in December 2001, was based on IAS 40 (2000), Investment Property, which was reissued in December 2003. 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. © 2020, O’Reilly Media, Inc. All trademarks and registered trademarks appearing on oreilly.com are the property of their respective owners. If an owner-occupied property becomes an investment property that will be carried at fair value, an entity shall apply IPSAS 17 up to the date of change in use. 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. The following are examples of items that are not investment property and therefore fall outside the scope of this Standard: (a) property held for sale in the ordinary course of operations or in the process of construction or development 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. IPSAS 20: Related Party Disclosures 172. 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: Net changes in cash pool investments . BC4. The objective of IPSAS 17 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 any changes in such investment. INVESTMENT PROPERTY IPSAS 16 BASIS FOR CONCLUSIONS 2 Basis for Conclusions This Basis for Conclusions accompanies, but is not part of, IPSAS 16. IPSAS 16 - Investment property Enrollment in this course is by invitation only. O’Reilly members experience live online training, plus books, videos, and digital content from 200+ publishers. This is because under the fair value model in IPSAS 16, an investment property is carried at fair value at the reporting date and any impairment will be taken into account in the valuation. 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. There are a number of circumstances in which public sector entities may hold property to earn rental and for capital appreciation. Previously, IPSAS 17 included within the cost of property, plant and equipment only the obligation which the entity incurs when the item is acquired. g�N60�JY��| T$�U$�Udb괨��S6E>�tH�L�L��D���/p0J44p04(�Jh`h`l`� J�Zty These Standards apply for annual financial statements covering periods beginning on or after January 1, 2013. IPSAS 10 – Financial Reporting in Hyperinflationary Economies; IPSAS 11 – 15. Overview. Net changes in cash pool investments . The requirements are very similar to the current guidance in IPSAS 7, Investment in Associates. Therefore, investment property generates cash flows largely independently of the other assets held by an entity. 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; Articles; Other Courses; Ask an Expert; Contact Us; Login. PROPERTY, PLANT AND EQUIPMENT IPSAS 17 496 Objective 1. IPSAS 36 explains the application of the equity method of accounting, which is used to account for investments in associates and joint ventures. 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. 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). As a result IPSAS … The Standard requires an entity to measure an item of property, plant and The following are examples of items that are not investment property and are therefore 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. 173 0 obj <>stream About This Course. The following terms are used in this Standard with the meanings specified: The commencement of the lease term is … 15: Financial Instruments – Disclosures and Presentation Objective: To enhance users understanding of the signifi cance of on balance sheet and off balance sheet fi nancial instruments to an entity’s fi nancial position, performance and cash fl ows. 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