ACCA FA Syllabus F. Preparing Basic Financial Statements - Non current assets including tangible and in tangible assets - Notes ^{2 / 5}

Property, Plant and Equipment

For each class of property, plant and equipment, disclose

• basis for measuring carrying amount

• depreciation method(s) used

• useful lives or depreciation rates

• gross carrying amount and accumulated depreciation and impairment losses

• reconciliation of the carrying amount at the beginning and the end of the period, showing: 
  o additions 
  o disposals 
  o acquisitions through business combinations 
  o revaluation increases or decreases 
  o impairment losses 
  o reversals of impairment losses 
  o depreciation 
  o net foreign exchange differences on translation 
  o other movements

Revalued amounts

If property, plant, and equipment is stated at revalued amounts, certain additional disclosures are required:

• the effective date of the revaluation

• whether an independent valuer was involved

• the methods and significant assumptions used in estimating fair values

• for each revalued class of property, the carrying amount that would have been recognised had the assets been carried under the cost model

• the revaluation surplus, including changes during the period and any restrictions on the distribution of the balance to shareholders

Intangible non-current assets (IAS 38)

For each class of intangible asset, disclose

• useful life or amortisation rate

• amortisation method

• gross carrying amount

• accumulated amortisation and impairment losses

• line items in the statement of profit or loss in which amortisation is included

• reconciliation of the carrying amount at the beginning and the end of the period showing: 

  o additions (business combinations separately) 
  o assets held for sale 
  o retirements and other disposals 
  o revaluations 
  o impairments 
  o reversals of impairments 
  o amortisation 
  o foreign exchange differences 
  o other changes

• basis for determining that an intangible has an indefinite life

• description and carrying amount of individually material intangible assets

• certain special disclosures about intangible assets acquired by way of government grants

• information about intangible assets whose title is restricted

• contractual commitments to acquire intangible assets

Additional disclosures

Additional disclosures are required about:

• intangible assets carried at revalued amounts

• the amount of research and development expenditure recognised as an expense in the current period