Property, Plant and Equipment

IAS 16

International Accounting Standard 16

Property, Plant and Equipment

This version includes amendments resulting from IFRSs issued up to 31 December 2010.

IAS 16 Property, Plant and Equipment was issued by the International Accounting Standards

Committee in December 1993. It replaced IAS 16 Accounting for Property, Plant and Equipment

(issued in March 1982). IAS 16 was revised in 1998 and further amended in 2000.

The Standing Interpretations Committee developed three Interpretations relating to IAS 16:

•

SIC-6 Costs of Modifying Existing Software (issued May 1998)

•

SIC-14 Property, Plant and Equipment—Compensation for the Impairment or Loss of Items

(issued December 1998)

•

SIC-23 Property, Plant and Equipment—Major Inspection or Overhaul Costs (issued July 2000).

In April 2001 the International Accounting Standards Board (IASB) resolved that all

Standards and Interpretations issued under previous Constitutions continued to be

applicable unless and until they were amended or withdrawn.

In December 2003 the IASB issued a revised IAS 16. The revised standard also replaced

SIC-6, SIC-14 and SIC-23.

Since then, IAS 16 has been amended by the following IFRSs:

•

IFRS 2 Share-based Payment (issued February 2004)

•

IFRS 3 Business Combinations (issued March 2004)

•

IFRS 5 Non-Current Assets Held for Sale and Discontinued Operations (issued March 2004)

•

IFRS 6 Exploration for and Evaluation of Mineral Resources (issued December 2004)

•

IAS 23 Borrowing Costs (as revised in March 2007)*

•

IAS 1 Presentation of Financial Statements (as revised in September 2007)*

•

IFRS 3 Business Combinations (as revised in January 2008)†

•

Improvements to IFRSs (issued May 2008).*

The following Interpretations refer to IAS 16:)

•

SIC-29 Service Concession Arrangements: Disclosures

(issued December 2001 and subsequently amended)

•

SIC-32 Intangible Assets—Web Site Costs (issued March 2002...