Hi everyone, I am currently pursuing the Chartered Accountancy course in India, and I have a doubt regarding Ind AS 16. Can someone please explain the measurement of property, plant, and equipment under Ind AS 16? Thank you.
Property, plant, and equipment are initially measured at cost, which includes purchase price, import duties, and any directly attributable costs. Subsequently, they are measured at cost or revalued amount.
The measurement of property, plant, and equipment depends on whether they are treated as components or non-components. Components are separately identifiable parts with different useful lives, while non-components cannot be depreciated separately. -l2
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