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ACCA FR：不动产、厂房和设备重估
文章来源：ACCA全球官网
发布时间：2021-09-23 10:50
阅读：1168次
Revaluation and derecognition
This is the second of three articles,and considers revaluation of property,plant and equipment(PPE)and its derecognition in accordance with International Financial Reporting Standards(IFRS®).The main IFRS standard that will be discussed is IAS®16,Property,Plant and Equipment.It also summarises the provisions of IFRS 5,Non-current Assets Held for Sale and Discontinued Operations.
Revaluation of PPE–IAS 16 position
General principles
IAS 16 allows entities the choice of two measurement models for PPE–the cost model or the revaluation model.Each model needs to be applied consistently to all PPE of the same‘class’.A class of assets is a grouping of assets that have a similar nature or function within the business.For example,properties would typically be one class of assets,and plant and equipment another.Entities may further classify‘plant and equipment’into smaller classes eg motor vehicles,computer equipment,machinery etc.
When the revaluation model is used,assets are carried at their fair value,defined as‘the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date’.The frequency of revaluations will depend on the changes in fair values of the items of PPE being revalued.If the PPE is subject to significant and volatile changes in fair value then annual revaluations may be required.Where this is not the case,it may only be necessary to revalue the item every three or five years.
If an item of PPE is revalued,the entire class of PPE to which that asset belongs must be revalued.However,IAS 16 allows that a class of assets may be revalued on a rolling basis provided the revaluation of the entire class of assets is completed within a short period of time and kept up to date.For example,one third of a property portfolio might be revalued each year so that over a three-year period the whole portfolio is revalued.
Revaluation gains
Revaluation gains are normally recognised in other comprehensive income and accumulated in equity under the heading of revaluation surplus.However,if they reverse revaluation losses on the same asset that were previously recognised in the statement of profit or loss then the revaluation gain is recognised in the statement of profit or loss to the extent that it reverses the revaluation loss.Revaluations change the depreciable amount of an asset so subsequent depreciation charges are also affected.
EXAMPLE 【点击免费下载>>>更多ACCA学习相关资料】
A property was purchased on 1 January 20X0 for$2m.The estimated depreciable amount,excluding the land,was$1m and it had an estimated useful life of 50 years.Annual depreciation of$20,000 was charged from 20X0 to 20X4 inclusive and on 1 January 20X5 the carrying amount of the property was$1.9m.The property was revalued to$2.8m on 1 January 20X5.The depreciable amount,excluding land,at that date was estimated to be$1.35m and the estimated useful life was unchanged.
Required
Explain how the revaluation will be accounted for and calculate the annual depreciation charge from 1 January 20X5 onwards.
Solution
The revaluation surplus of$900,000($2.8m–$1.9m)is recognised in the statement of financial position by crediting the revaluation surplus in equity and recognising the gain in other comprehensive income.Similarly,this amount would be shown in the statement of changes in equity under the revaluation surplus heading.The corresponding debit is to PPE and at 1 January 20X5 the property would have a new carrying amount of$2.8m.The depreciable amount of the property is now$1.35m and the remaining estimated useful life will be 45 years(50 years from 1 January 20X0 less five years already passed).Therefore,the depreciation charge from 20X5 onwards would be$30,000($1.35m x 1/45).
A revaluation usually increases the annual depreciation charge in the statement of profit or loss.In the above example,the annual increase is$10,000($30,000–$20,000).IAS 16 allows(but does not require)entities to make a transfer of this‘excess depreciation’from the revaluation surplus directly to retained earnings.This annual transfer would be presented in the statement of changes in equity.
Revaluation losses
Revaluation losses are recognised in the statement of profit or loss.The only exception to this rule is where a revaluation surplus exists relating to a previous revaluation of that asset.To that extent,a revaluation loss can be debited to the revaluation surplus and recognised as a loss in other comprehensive income.
EXAMPLE
The property referred to in Example 1 was revalued again on 31 December 20X6.Its fair value at that date had fallen to$1.5m.
Required
Calculate the revaluation loss and explain how it should be treated in the financial statements.
Solution
The carrying amount of the property at 31 December 20X6 would have been$2.74m($2.8m–($30,000 x 2 years)).This means that the revaluation deficit is$1.24m($2.74m–$1.5m).
If the transfer of excess depreciation(see above)has not been made,then the balance in the revaluation surplus relating to this asset is unchanged at$900,000(see Example 1).Therefore$900,000 is deducted from equity by reducing the revaluation surplus and the balance of the loss of$340,000($1.24m-$900,000)is charged to the statement of profit or loss.It is important to appreciate that you cannot create a debit balance on the revaluation surplus.Once you have utilised the revaluation surplus relating to that specific asset and reduced it to nil,any excess revaluation loss must be debited to profit or loss.
If the transfer of excess depreciation had been made since the property was revalued on 1 January 20X5,then the balance on the revaluation surplus at 31 December 20X6 would be$880,000($900,000–(2 x$10,000)).Therefore$880,000 would be deducted from equity by reducing the revaluation surplus and$360,000($1.24m–$880,000)charged to the statement of profit or loss.
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