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IASB proposes to amend IAS 16 in relation to the accounting for proceeds from selling items produced before an item of property, plant and equipment is available for use

IFRS News | 5 July 2017

This edition outlines the proposed amendments to IAS 16 Property, Plant and Equipment set out in the recent Exposure Draft (ED) 2017/4 issued by the International Accounting Standards Board (IASB) .

  • When an entity sells items produced before an item of property, plant and equipment (PPE) is available for use the IASB is proposing that those costs be recognised in profit or loss, rather than being deducted from the cost of that PPE.
  • Comments on the proposed change are due by 19 October 2017.

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