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ACCA FR：不动产、厂房和设备终止确认
文章来源：ACCA全球官网
发布时间：2021-09-23 10:57
阅读：969次
Derecognition of PPE–IAS 16 position
PPE should be derecognised(removed from PPE)either on disposal or when no future economic benefits are expected from its use or disposal.A gain or loss on disposal is recognised as the difference between the disposal proceeds and the carrying amount of the asset at the date of disposal.This gain or loss is included in the statement of profit or loss–the disposal proceeds should not be recognised as revenue.
Where assets are measured using the revaluation model,any remaining balance in the revaluation surplus relating to the asset disposed of is transferred directly to retained earnings and would be presented in the statement of changes in equity.No recycling(transfer)of this balance into the statement of profit or loss is permitted.
Disposal of assets–IFRS 5 position
IFRS 5 is another standard that deals with the disposal of non-current assets and discontinued operations.An item of PPE becomes subject to the provisions of IFRS 5(rather than IAS 16)if it is classified as held for sale.This classification can either be made for a single asset or for a group of assets(disposal group).This article considers the implications of disposing of a single asset.
IFRS 5 is only applied if the held for sale criteria are satisfied.An asset is classified as held for sale if its carrying amount will be recovered principally through a sale transaction rather than through continued use.For this to be the case,the asset must be available for immediate sale in its present condition and its sale must be highly probable.For a sale to be highly probable in accordance with IFRS 5,it must meet the following criteria:
an appropriate level of management must be committed to a plan to sell the asset
an active programme to locate a buyer and complete the plan must have been initiated
the asset must be actively marketed at a price that is reasonable in relation to its current fair value,and
a successful sale should normally be expected within one year of the date of classification.
All of these criteria must be met for the asset to be classified as held for sale.
The types of asset that would typically satisfy the above criteria would be property and very substantial items of plant and equipment.The normal disposal or scrapping of plant and equipment towards the end of its useful life would be subject to the provisions of IAS 16.When an asset is classified as held for sale,IFRS 5 requires that it be classified separately from all other assets on the statement of financial position under the heading–‘non-current assets held for sale’.【点击免费下载>>>更多ACCA学习相关资料】
The illustrative example below shows how this might be presented in a company’s statement of financial position(figures invented):
Once an asset has been classified as being held for sale,no further depreciation is charged as its carrying amount will be recovered principally through sale rather than continuing use.
The existing carrying amount of the asset is compared with its‘fair value less costs to sell’(ie the expected selling price less any expected selling costs).If fair value less costs to sell is below the current carrying amount,then the asset is written down to fair value less costs to sell and an impairment loss recognised in profit or loss.When the asset is sold,any difference between the new carrying amount and the net selling price is shown as a gain or loss on sale.
EXAMPLE
An item of PPE has a carrying amount of$600,000.It is classified as held for sale on 30 September 20X6.At that date its fair value less costs to sell is estimated at$550,000.The asset was sold for$555,000 on 30 November 20X6.The year end of the entity is 31 December 20X6.The PPE had not previously been revalued.
Required
(a)Explain how the classification as held for sale,and subsequent disposal,would be treated in the 20X6 financial statements?
(b)Explain how the above answer would differ if the carrying amount of the asset at 30 September 20X6 was$500,000,with all other figures remaining the same?
Solution
(a)On 30 September 20X6,the asset would be written down to its fair value less costs to sell of$550,000 and an impairment loss of$50,000($600,000–$550,000)recognised in profit or loss.The asset would be removed from non-current assets and presented in‘non-current assets held for sale’.On 30 November 20X6 a gain on sale of$5,000 would be recognised and the asset derecognised.
(b)On 30 September 20X6 the asset would be transferred to non-current assets held for sale at its existing carrying amount of$500,000.When the asset is sold on 30 November 20X6,a gain on sale of$55,000 would be recognised.
Where an asset is measured under the revaluation model then IFRS 5 requires that its revaluation must be updated immediately prior to being classified as held for sale.The effect of this treatment is that the selling costs will always be charged to the statement of profit or loss at the date the asset is classified as held for sale,because the carrying amount will already have been updated to its fair value immediately before the transfer.
EXAMPLE
An asset being classified as held for sale is currently carried under the revaluation model at$600,000.Its fair value has now been estimated as$700,000 and the estimated costs of selling the asset are$10,000.
Required
Explain how this transaction would be recorded in the financial statements.
Solution
Immediately prior to being classified as held for sale,the asset would be revalued to its fair value of$700,000 in accordance with IAS 16.The gain of$100,000 would be credited to the revaluation surplus and presented in other comprehensive income.The fair value less costs to sell of the asset is$690,000($700,000–$10,000).On reclassification as a non-current asset held for sale,the asset would then be written down to this value(being lower than the updated carrying amount)and a$10,000 impairment charged to the statement of profit or loss.
Written by a member of the Financial Reporting examining team
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